The Brazilian Association of Cryptoeconomics (ABcripto) announced, this Wednesday (26), during theCrypto Tax Reporting Summit, the launch ofTax Self-Regulation ProgramThe initiative is aimed at exchanges, tokenization platforms, cryptoeconomic infrastructure platforms, and other service providers of cryptoassets, offering support for these companies to comply with the requirements of the Federal Revenue Service (RFB), including DeCripto and Normative Instruction RFB No. 1888/2019. The Program aims to ensure greater legal certainty, regulatory predictability, and standardization in the fulfillment of obligations imposed on the Cryptocurrency sector.
According to Tiago Severo, Vice President of Legal and Self-Regulation at ABcripto, the initiative represents an important advancement for the crypto market in Brazil.The Program was structured within the scope of ABCripto's self-regulation pillar, with the aim that any market participant, whether a member or not, can have a soft landing regarding the compliance with new regulations issued by the RFB.", affirms Severo."
The Program takes place in two stages.In the first, the company answers an electronic questionnaire,assessment, and then participates in an interview with the Program Coordinators, whose goal is to identifyGap Analysis.
In the second stage, the Program Coordination will deliver a customized Action Plan design, with detailed guidelines to ensure the company is fully compliant with the requirements of the Federal Revenue Service. If necessary, ABcripto and its consultants may accompany the company in interviews with the Federal Revenue Service, providing technical and legal support.
Interested companies must fill out the online form available on the ABcripto website and sign the adhesion agreement to the Program (Adhesion Term). It is estimated that within 30 to 45 days of signing the Term of Adhesion, the participating company will have its customized Action Plan.
The program has a pricing structure based on the size and tax regime of the applying institution. Small businesses registered under the Simples Nacional will have different conditions, while those operating under the Actual Profit or Presumed Profit regimes will follow another model. Large corporate groups with international operations will have tailored support to meet their needs, considering challenges such as intragroup transactions and international remittances.
Registrations are already open, and interested companies can find more information about the Tax Self-Regulation Program by visiting the ABcripto website at thislink.
