Curitiba in Brazil is currently studying cryptocurrency payment options for its taxes. Noemia Rocha (a Curitiba councilor) presented this idea to the executive. The goal was to determine how the municipality can accept these payment methods using third party processors.
Bitcoin might be accepted by Curitiba to pay taxes
As part of their tax collection and development plans, more and more municipalities include crypto. Curitiba (the capital of Parana State in Brazil) is currently considering accepting payment in cryptocurrency to pay municipal taxes. Noemia Rocha (city councilor) is the architect of the project. She suggested that the city consider using third-party payment services to achieve this.
Recognizing the acceptance of cryptocurrency in Brazil, the proposal pushes Curitiba (considered a hub for technology in Brazil) to examine this potential. Rocha spoke out about this proposal’s functionality.
Cryptocurrencies have become financial assets of immense popularity in the world economy and are already alternative forms to the ‘nationalization of currency’, as can be seen in the numerous operations carried out through the virtual environment.
Rio De Janeiro inspired
Rocha explained that her proposal was inspired by the advances Rio de Janeiro made in this sector. It has announced that it will be accepting these payments for municipal taxes starting in 2023. This could provide an opportunity for updating the tax payments system to accept this type of currency.
In order to ensure its proper implementation, the bill will have to go through the review of Curitiba’s mayor. The bill is only a suggestion and the executive does not have to approve it.
Some cities also have begun accepting cryptocurrency as payment for municipal taxes. One example is Buenos Aires. It has a digitalization drive that aims to accept these payments as well as a blockchain-based ID system. This will simplify the annual formalities citizens must follow.
Mendoza in Argentina, a province, has accepted payments for taxes using crypto since August. It also received national currency provided by the payments provider. Stablecoins such as USDC and USDC are currently acceptable.
What do you think about Curitiba’s proposal to accept cryptocurrency as payment for municipal taxes? Comment below.
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