econintersect.com
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자
No Result
View All Result
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자
No Result
View All Result
econintersect.com
No Result
View All Result
Home Finance

Venezuela Allegedly Hit By Bitcoin Tax Of 20%

admin by admin
2월 7, 2022
in Finance
0
Venezuela Allegedly Hit By Bitcoin Tax Of 20%
0
SHARES
0
VIEWS

The rate of Bitcoin adoption has been on the rise in Venezuela in recent years as the country is affected by hyperinflation and the national currency crisis. The government of Venezuela has now approved a new tax bill that aims to collect a staggering 20% in taxes from crypto transactions, based on local reports.

Three Bitcoin cryptocurrency with Venezuela flag on background.

On February 3, Venezuela’s National Assembly held a second discussion legislative session for a new draft bill targeting taxes on the “large financial transactions” in crypto like Bitcoin (BTC). The Venezuelan government approved the draft bill last week, needing local companies and people to pay up to 20% for operations carried out in cryptos and foreign currencies like the United States dollar.

Filed on January 20, the draft law strives to collect 2%-20% from transactions in any currencies other than the ones issued by the Bolivarian Republic of Venezuela, the Venezuelan bolivar, together with the nation’s oil-backed cryptocurrency, El Petro.

This initiative strives to incentivize the use of the national currency that allegedly lost over 70% in value in 2021 alone and shed almost all of its value in the past decade. The bill reads:

“It is necessary to guarantee treatment at least equal to, or more favorable, to payments and transactions made in the national currency or cryptocurrencies or crypto assets issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.”

Buy Bitcoin Now

As previously noted, Bitcoin adoption has been exploding in Venezuela in recent years, with thousands of local businesses beginning to move into crypto to survive the current hyperinflation. In October last year, one major international airport in Venezuela was getting ready to begin accepting crypto like Bitcoin for different services and flight tickets.

Tags: adoptionBitcoinBitcoin adoptionbitcoin taxBTCcryptocrypto taxcryptocurrencygovernmentMaduroPetroregulationtaxationVenezuela
Previous Post

RSS3 Strives To Become The Decentralized Information Processor Of Web3

Next Post

Analysis States That Russia Might Collect $13B In Crypto Tax Annually

Related Posts

Namibia Will Regulate And Not Ban Crypto With New Law
Finance

Namibia Will Regulate And Not Ban Crypto With New Law

by admin
Bitcoin Stumbles As Macro And Regulatory Concerns Arise, What Next?
Economics

Bitcoin Stumbles As Macro And Regulatory Concerns Arise, What Next?

by admin
What Does Persistent Inflation Mean For Bitcoin?
Business

What Does Persistent Inflation Mean For Bitcoin?

by admin
Centralized Blockchain Payments Intensify As NY Fed Enjoys Success In The Space
Economics

Centralized Blockchain Payments Intensify As NY Fed Enjoys Success In The Space

by admin
Bitcoin Blasts Off to $34K Amid Soaring ETF Hype!
Economics

BTC price will soon break beyond $31K yearly highs – Bitcoin traders

by admin
Next Post
Analysis States That Russia Might Collect $13B In Crypto Tax Annually

Analysis States That Russia Might Collect $13B In Crypto Tax Annually

답글 남기기 응답 취소

이메일 주소는 공개되지 않습니다. 필수 필드는 *로 표시됩니다

Browse by Category

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Browse by Tags

adoption altcoins bank banking banks Binance Bitcoin Bitcoin market blockchain BTC BTC price business China crypto crypto adoption cryptocurrency crypto exchange crypto market crypto regulation decentralized finance DeFi Elon Musk ETH Ethereum Europe Federal Reserve finance FTX inflation investment market analysis Metaverse NFT nonfungible tokens oil market price analysis recession regulation Russia stock market technology Tesla the UK the US Twitter

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

© Copyright 2024 EconIntersect

No Result
View All Result
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자

© Copyright 2024 EconIntersect