Paraguay’s crypto framework one step away from becoming law
The Paraguayan Senate passed a bill on July 14 establishing a tax and regulatory framework for businesses operating in the cryptocurrency and the crypto mining sectors.The bill, introduced last July by Senator Fernando Silva Facetti and passed in Congress in May before reaching the Senate.
Local news outlet ABC reported on July 14 that companies that operate in the crypto industry would be treated the same as those dealing with securities for tax purposes. As a result, they will be exempted by the Undersecretary of State for Taxation from paying a Value Added Tax (VAT) but will be included in the income tax regime. According to reports, Senator Facetti said that modifications made to the bill over the last year “improved the original project.”
Source
https://t.me/DeFi_Ethereum
