The regulation of the automatic taxation of the profit of “offshores” held by Brazilian individuals is under debate in Congress (via MP 1172, which incorporated the content of MP 1171). One of the novelties is the inclusion of cryptoassets as financial assets that may attract taxation in Brazil, if traded by the offshore.

Our lawyer Adriano Milanesi Sutto explained, in the article published by InfoMoney, how the measure impacts crypto investors. According to the lawyer, the proposal does not affect individuals who directly trade cryptocurrencies abroad and not even crypto investors who trade in Brazilian brokers.

On the other hand, the scenario is different for the Brazilian who holds an offshore and, within that offshore established in a tax haven, carries out operations with crypto assets and earns profits. “In this case, the profit arising from the offshore’s crypto activity would be taxable in Brazil based on the new rules, even without effective availability”, he points out.

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