This country accepts tax payments in crypto
Yes, why not. This country is now going to accept tax payments in cryptos.
It is not a country where you expect it quickly. You would rather think of a progressive Western country. That is not the case, because the Argentine province of Mendoza is starting to accept tax payments in digital coins.
Tax payments in crypto
The province has implemented a system that allows taxpayers to pay their taxes in full with cryptocurrencies. The system, launched this week, is part of a strategic push to modernize and digitize payments. The tax authorities therefore make it more fun and easier. The government agency did not develop the system itself, but outsourced it. It is the first country to do so in such a form.
The system is part of a strategic move by the provincial authorities to modernize the payment of taxes and state contributions. And provide citizens with different options to meet their obligations. Nicolas Chávez, chief executive of Mendoza’s tax authorities, said it is a way to make payments easier. It is a service provided by a payment processor.
Extern company
The program is embedded on the county’s website, however, payments are fully processed by an external company. They accept the cryptos and the payments in Argentine Pesos. The system only receives payments in stablecoins, including USDT, USDC and DAI.
Other municipal governments in the country are enthusiastic about the initiative. They want to connect quickly and have announced the inclusion of cryptocurrencies as a means of payment for taxes. Rio de Janeiro, one of the largest cities in Brazil, also has big plans. But Rio’s plans go even further, envisioning crypto payments for other services such as taxi rides and NFTs to promote art, culture and tourism.
