Crypto Payments For Local Taxes In The Works, Australian Mayor Says
Gold Coast is one of the leading cities in Australia in terms of crypto acceptance. Mayor Tom Tate stated on Monday that city residents might pay taxes and rates using cryptocurrencies in the coming months or years, despite the fact that skeptics and experts cite volatility as a big concern. As of March 2021, Statista […]
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"The volatility is not that bad” - Australia’s Gold Coast Mayor suggests crypto could be used to pay local taxes in the future. Tom Tate, the Mayor of Gold Coast, Australia, has suggested that cryptocurrency could be used by residents to pay local taxes in future years, though critics have flagged volatility and the recent market crash as a cause for concern. "Why can't we pay rates on cryptocurrency if the risk is not high?" said Tate, speaking to local media outlet ABC News on June 5, just over a week before the council is due to hand down its annual budget. "The volatility is not that....
Jackson, Tennessee’s mayor is a fan of bitcoin and he wants the city to become a bitcoin hub in order to entice technology companies and innovation. Jackson’s mayor Scott Conger is in the midst of discussing creating legislation that allows Jackson residents to pay property taxes with bitcoin. Jackson, Tennessee’s Mayor Is a Fan of Bitcoin, He Wonders Why We Accept Inflation Miami mayor Francis Suarez is not the only bitcoiner trying to get bitcoin companies and technological innovation to reside in his city. Jackson, Tennessee’s mayor is also a bitcoin fan and....
The city will allow taxpayers to make crypto payments through third-party service providers. The city of Rio de Janeiro is seeking crypto firms to operate its tax property seasoning in 2023, according to a decree published on Oct. 11, allowing taxpayers to use crypto alongside fiat currency to pay tributes. The move makes Rio the first Brazilian city to accept digital assets as payment for taxes.It is expected that taxpayers will be able to pay with more than one crypto asset and that other types of taxes will be enabled in the future, the city stated. The decree also states that companies....
The Australian Treasury Department representative Kate Preston called Bitcoin a way too "infant" for being considered for tax amendments. The comments came in response to Labor Senator Sam Dastyari's allegation towards the current Australian Tax Office (ATO) tax laws that, according to him, will end up relocating local Bitcoin business out of its jurisdiction. However, Preston believed that digital currencies like Bitcoin should first be regulated properly before being amended for tax purposes. "The Treasury view would be that, taxation is not where you start," she told the Senate....
Supporting this cause led by Mayor Eduardo Paes, Binance CEO Changpeng Zhao announced to open a new office in the Brazilian city stating that “He's done his part. We are working on ours.” The Brazilian city of Rio de Janeiro will officially start accepting Bitcoin (BTC) payments for taxes related to urban real estate within their city limits, a.k.a. Imposto sobre a propriedade predial e territorial urbana (IPTU).As reported by Cointelegraph Brazil, the new pro-crypto tax laws will be implemented from 2023, which was announced by the Secretary of Economic Development, Innovation and....