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Venezuela will start collecting taxes through cryptocurrencies

In Venezuela the Bolivarian Council of Mayors signed a “National Tax Harmonization Agreement” for 305 parishes in the country that enables residents of these cities to pay taxes and fines using the national cryptocurrency Petro (PTR).

With this new campaign, Venezuela plans to expand the capabilities of Petro.

Delcy Rodriguez, Vice President of Venezuela, will be responsible for implementing a single register for all taxpayers. It will take care of that too Creation of a system for exchanging information and monitoring companiesto make it easier to track payments made with the Petro.

Venezuela will start collecting taxes through cryptocurrencies
Venezuela will start collecting taxes through cryptocurrencies

Venezuela has 335 mayors, 91% of whom are under the mandate of the United Socialist Party of Venezuela (PSUV). Only 30 parishes are run by opponents of Nicolás Maduro’s regime: You will continue to levy taxes in Venezuela’s national currency, Bolívar. as they don’t have the technology necessary to accept the Petro.

Delcy Rodríguez commented on the initiative:

“It will be possible to simplify procedures and make the government more efficient in serving the people and economic sectors that stimulate economic activity in the productive and commercial spheres.”

The Venezuelan government announced this in June Almost 15% of fuel payments at gas stations across the country were made with the Petro.

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