If you use Bitcoin in Venezuela, you pay less taxes. New law set by the government.

Hello, guys Venezuelan residing right here, serving to adoption.

That is some form of shock contemplating the character of the federal government (they prefer to have management of every thing) however properly, I suppose they needed to be much less formidable and never take every thing for them.

On this case, it’s the tax on giant monetary transactions (IGTF) is a tax that you must pay if you happen to transfer cash at it’s set by 2% additionally if you happen to pay in USD money you must add 3% extra tax, if you happen to pay or switch crypto you keep away from that 5%.

After all, this solely impacts "authorized" transactions accomplished and reported to the SENIAT (like IRS) for off the file and P2P this doesn't apply.

https://criptomonedaseico-com.translate.goog/noticias/gobierno-de-venezuela-exonera-del-pago-del-impuesto-a-las-grandes-transacciones-financieras-igtf-a-las-operaciones-que-se-realicen-con-bitcoin-btc-y-otras-criptomonedas/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=es&_x_tr_pto=wapp