Brazil Approves New Income Tax Rules, Imposing 15% Tax on

The Brazilian Senate has passed legislation imposing a 15% tax on crypto earnings from foreign exchanges. The tax applies to earnings exceeding $1,200 starting January 1, 2024. Earnings realized before the end of 2023 face a reduced 8% rate. This aligns foreign exchange tax rates with domestic regulations and targets exclusive funds. The government expects significant revenue from these changes.