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Those who perform operations with crypto actives must inform Brazilian Federal Revenue Service

From August, 1st onwards, individuals, legal entities and brokerage firms that carry out purchase and sale of crypto actives must provide information to Brazilian Federal Revenue about performed operations.

Crypto is any virtual currency traded electronically using encryption, as well as distributed registers technologies.

Declarations will be required from:

1) National Exchanges, thus understood as legal entities that offer services of operations carried out with crypto actives;

2) Individuals or legal entities residents in Brazil who did not use exchanges or who used exchanges headquartered abroad, provided that the monthly value of the transactions exceeded R$ 30 thousand.

Among other information, stand out the identification of the operations’ holders, the value of the transaction in Reais, the amount of crypto actives traded and the operation’s date.

Transaction records must be informed through the National Collection System, which will be available until the end of the month at Federal Revenue’s Virtual Assistance Center (e-CAC).

Information must be transmitted to the Federal Revenue Service by the last business day of the month following that in which the transactions occurred. Delayed delivery of information subject the taxpayer to a fine of R$ 100, if individual, and R$ 500 to R$ 1.500 in case of legal entity.

Our tax department is available for further clarification.