Buenos Aires City Government Aims to Allow Use of Crypto for Tax Payment

Horacio Rodríguez Larreta, who is the mayor of Buenos Aires, says he wants people in the Argentine capital to be able to pay municipal taxes using crypto-assets.

According to a report from CoinDesk, on Monday (April 25), the 56-year-old economist and politician, mayor of the city of Buenos Aires since 2015, announced that the city government would allow residents to pay taxes to be made at using crypto, but this crypto will be automatically converted by some crypto payment processors into Argentinian pesos before being delivered to the city government bank account(s).

His remarks were made as part of a speech that presented his “Buenos Aires+” plan, which is a set of 12 measures “to continue building a modern, efficient, close state that takes advantage of technology to support all potential that the citizens of Buenos Aires did.

The head of the government of Buenos Aires spoke of 12 changes to come during his speech. Below are some highlights based on a notice issued April 26 by the city government.

The first transformation: digital identity

The first change is what we call self-sovereign digital identity, which is one of the most innovative tools that are given in the world for citizens to have their digital ID. Through an app, people will be able to digitally authenticate their identity, and this will allow them to have access to all their information in one place, their phone.

The fifth transformation: digital training

The fifth transformation concerns digital training… between April and December, we will extend the digital islands to the headquarters of the central service, so that people who do not have access to a computer can do it on site and that they can learn, so next time they won’t have to go to a public office.




The Ninth Transformation: Paying Taxes

In collaboration with the main companies, we are working so that those who wish can pay their taxes in cryptocurrencies… This does not mean that the City is going to have cryptocurrencies in its public accounts, but that on the basis of a agreement with virtual wallets, we are going to add a payment option to the ones we already have, with the idea of ​​making things easier.

The CoinDesk report also mentioned that Diego Fernández, the city’s secretary of innovation and digital transformation, told CoinDesk that this support for crypto payments would be available in the “coming months.”

Interestingly, on March 28, CoinDesk reported that the city of Rio de Janeiro had announced on March 25 that it plans to authorize “the payment of a municipal property tax with cryptocurrencies from 2023 “.

Apparently Rio de Janeiro Mayor Eduardo Paes said in a statement:

Our effort here is to clarify that in the city of Rio we have official initiatives that recognize this market… From now on, those who invest in cryptocurrency and live in the city of Rio will be able to spend this asset here by paying the official tax in the city of Rio. And we will move just as fast.

Warning

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading crypto-assets involves the risk of financial loss.

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Featured image by “moerschy” via Pixabay.com

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