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Crypto Tax: Venezuelans To Face 20% Tax on Crypto Transactions

Crypto tax is trending across the globe as more and more country are revealing their crypto taxation policy. The latest addition to list is Venezuela, where the government has announced a levy of 20% Tax on all crypto transactions.
Why crypto tax?
Several countries have already introduced tax policies regarding Crypto gains since the beginning of 2022.

JUST IN: Venezuelan government has approved of a new 20% tax for #Bitcoin and #cryptocurrency transactions.
— Watcher.Guru (@WatcherGuru) February 8, 2022

As per reports, Venezuela’s National Assembly held a second discussion session on Thursday regarding a new draft bill that targets taxes on “large financial transactions” in cryptocurrencies like Bitcoin.
In the second discussion held over the bill last week, the Venezuelan government reportedly gave its approval. Now, requiring local firms and individuals will both be required to pay up to 20% for operations carried out using any cryptocurrencies except Venezuelan Bolivar

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