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ARGENTINE PROVINCE ALLOWS CITIZENS TO PAY THEIR TAXES IN CRYPTOCURRENCIES

The authorities of the Mendoza province in Argentina have reportedly ruled that citizens can now pay taxes and government fees in cryptocurrencies. The region’s tax administrators described the new law as the strategic objective of modernization and innovation which will give taxpayers different means to fulfil their tax obligations.

 

For now, the region’s authorities will only accept tax payments in Tether (USDT). At a later stage, it plans to add more digital assets options for taxpayers. Taxpayers can use some popular crypto wallets such as Bitso, Ripio, Bybit, Binance, Buenbit and Lemon Cash to make their payments.

 

Earlier this year, the Buenos Aires lawmakers also considered introducing something similar. Mayor Horacio Rodriguez Larreta revealed that the capital aims to digitize all its administration processes. He also added that blockchain technology will play a key role in achieving this goal.

 

He also hinted at citizens getting the chance to pay their taxes in cryptocurrencies in the near future. He said “And we are going to work to facilitate the payment of taxes, the ninth measure of this plan. Together with the leading companies, we are working so that those who wish can pay their taxes in cryptocurrencies”.

 

Contrary to Mendoza’s positive crypto stance, Argentina’s central bank is not still sold the digital asset industry. Earlier this year, it banned all domestic financial institutions from facilitating any digital asset services (trading, deposits, withdrawals and stakings inclusive).

 

Featured Image Source: www.cryptonomist.ch

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