The Brazilian Association of Crypto-economy (ABcripto) announced, this Wednesday (26), during theCrypto Tax Reporting Summit, the launch ofTax Self-Regulation Program. The initiative is aimed at exchanges, tokenizers, crypto-economic infrastructure platforms and other crypto-asset service providers, providing support for these companies to comply with the requirements of the Federal Revenue Service (RFB), incluindo a DeCripto e Instrução Normativa RFB nº 1888/2019. The Program aims to ensure greater legal security, regulatory predictability and the standardization in the compliance with the obligations imposed on the Crypto-economy sector.
According to Tiago Severo, Legal Vice-President and Self-Regulation at ABcripto, the initiative represents an important advance for the crypto market in Brazil. “The Program was structured within the framework of the self-regulation pillar of ABCripto, with the aim that any market actor, associated or not, may have a soft landing regarding the adequacy of new regulations issued by the RFB”, Severo claims.
The program takes place in two stages.In the first, the company answers an electronic questionnaire, assessment, and, after, participates in an interview with the Program Coordinators, whose objective is to identifyGap Analysis.
In the second stage, The Program Coordination will have as a deliverable the design of a personalized Action Plan, with detailed guidelines for the company to be in full compliance with the requirements of the Federal Revenue Service. If necessary, ABcripto and its consultants will be able to accompany the company in interviews with the Federal Revenue Service, providing technical and legal support.
Interested companies must fill out the electronic form available on the ABcripto website and sign the adhesion contract to the Program (Adhesion Term). It is estimated that between 30 and 45 days from the signing of the Adhesion Term, the adhering company will have its Action Plan customized.
The program has a pricing structure based on the size and tax regime of the applying institution. Small businesses, framed in the Simples Nacional, will have differentiated conditions, while businesses operating under the Real Profit or Presumed Profit regime will follow another model. Large business groups with international operations will have support tailored to their needs, considering challenges such as intragroup transactions and international remittances.
Registrations are now open, and interested companies can obtain more information about the Tax Self-Regulation Program by accessing the ABcripto website at thislink.
