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Urgent! Federal Revenue Already Has Financial Data of Brazilians on Investments in Cryptocurrency and Bitcoin Purchases in Foreign Banks and Will Start Charging Tax

Written by Flavia Marinho
Published on 27/11/2024 at 16:48
imposto - investimento - receita federal - bitcoins - criptomoedas - compras
Receita Federal reforça controle: imposto sobre investimentos em compras de criptomoedas e Bitcoin no exterior começa em 2026
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Federal Revenue Reinforces Control: Tax on Investments in Cryptocurrency and Bitcoin Purchases Abroad Starts in 2026

The Federal Revenue took a decisive step in controlling investments in cryptocurrency purchases by announcing the tax on transactions of Bitcoin and other digital currencies made by Brazilians abroad. Starting in 2026, the agency will have access to detailed financial data through international agreements, strengthening oversight over the crypto-assets market.

With this measure, investors should prepare for a new era of tax transparency, where gains from digital currencies will be monitored and taxed, aligning Brazil with global trends in regulation and revenue collection.

Brazil Adopts Global Practices to Tax Digital Currencies

The Federal Revenue intensifies its efforts to regulate the cryptocurrency market, including Bitcoin and other digital currencies. With the collection of information on transactions conducted by Brazilians abroad, the tax on these assets will be enforced starting from the 2026 calendar year.

During an event hosted by the São Paulo State Industries Center (CIESP) on November 18, the Federal Revenue revealed the details of the new regulation. The Special Tax Regularization Program for Foreign Currency and Tax Assets (Rerct-Geral) was presented as a milestone in Brazilian tax transparency.

Andrea Costa Chaves, Deputy Secretary of Taxation of the Federal Revenue, emphasized Brazil’s commitment to global financial information exchange. This measure includes transactions with cryptocurrencies and Bitcoin, aligning the country with international regulations and tax collection standards.

According to the Federal Revenue, financial data from nearly 100 countries are already shared through international agreements. In 2026, the focus will expand to the automatic exchange of information about digital currencies, enhancing control over gains from crypto-assets made on foreign platforms.

Regularization of Crypto-Assets in Brazil and Abroad

At the event, tax auditor Pedro de Souza de Menezes Bastos explained the conditions for joining the Rerct-Geral. This regime covers assets in Brazil and abroad, as long as their origin is lawful. To regularize crypto-assets, it is necessary to pay taxes and fines by December 16. The adherence will only be confirmed after compliance with this requirement.

The Federal Revenue reinforced that the tax secrecy of taxpayers who join the program will be guaranteed with additional safeguards. This protection aims to encourage the regularization of digital assets and increase tax revenue.

Data Exchange Between Countries: A New Standard for Cryptocurrencies

The growing digital currency market and the rise of tax evasion have driven the creation of a new international standard by the Organization for Economic Cooperation and Development (OECD). The Crypto-Asset Reporting Framework (CARF) is designed to standardize the automatic sharing of data between tax authorities.

Currently, 48 countries and territories, including Brazil, the United States, the United Kingdom, and Germany, have already joined the initiative. This group commits to implementing the CARF by 2027 while respecting national legislation. Additionally, adjustments to the Common Reporting Standard (CRS) will be made to align the taxation of crypto-assets with the new schedule.

Tax on Bitcoin and Cryptocurrencies: The Impact on Investors

The Federal Revenue warned investors about the increase in oversight starting in 2026, especially for those using international exchanges. Among the global platforms operating in signatory countries are Kraken (USA), Coinbase (USA), Bitso (Mexico), OKX (Malta), and Bitget (Singapore).

Moreover, some of these exchanges, such as Coinbase and OKX, operate in Brazil and follow the guidelines of Normative Instruction 1888. This means that user information can already be reported to the Brazilian regulatory body, even before the full implementation of the CARF.

With the new standard, the Federal Revenue will have detailed access to cryptocurrency financial transactions, allowing for greater control over profits generated from transactions involving Bitcoin and other digital currencies.

OECD and Federal Revenue Join Forces Against Tax Evasion

The implementation of the CARF and the expansion of the CRS are direct responses to the rapid growth of the crypto-assets market. These initiatives aim to increase global tax transparency and combat practices that undermine public revenue collection.

According to the OECD, gaps in the tax legislation of many countries facilitate tax evasion in the cryptocurrency sector. By adopting a unified system, greater fairness is expected in the international tax system. The goal is to ensure that all investors pay the taxes owed, regardless of the country in which they operate.

A New Era for Digital Currencies in Brazil

The decision to tax digital currencies like Bitcoin reinforces Brazil’s commitment to modernizing its fiscal structure. The expected increase in revenue starting in 2026 could have positive impacts on the economy but also requires greater attention from investors to meet legal obligations.

The Rerct-Geral program offers an opportunity to regularize crypto-assets under special conditions until December of this year. Experts recommend that investors prepare for stricter oversight, ensuring that their cryptocurrency operations comply with the law.

With Brazil’s adherence to global standards, such as the CARF, the digital currency market enters a new phase where transparency and tax compliance will be priorities.

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Flavia Marinho

Flavia Marinho é Engenheira pós-graduada, com vasta experiência na indústria de construção naval onshore e offshore. Nos últimos anos, tem se dedicado a escrever artigos para sites de notícias nas áreas militar, segurança, indústria, petróleo e gás, energia, construção naval, geopolítica, empregos e cursos. Entre em contato com flaviacamil@gmail.com ou WhatsApp +55 21 973996379 para correções, sugestão de pauta, divulgação de vagas de emprego ou proposta de publicidade em nosso portal.

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