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Buenos Aires Confirms It Plans to Permit Residents to Pay Taxes With Cryptocurrency

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Horacio Larreta, the top of the federal government of Buenos Aires, the capital of Argentina, confirmed that the town will permit its residents to pay some taxes with cryptocurrencies. That is a part of a digitization plan that the town has named “Buenos Aires+” that seeks to simplify the connection the town has with residents.

Buenos Aires Authorities to Introduce Cryptocurrency Tax Funds

The federal government of Buenos Aires, the capital of Argentina, is planning to permit its residents to pay some taxes with cryptocurrencies. In response to native media, the announcement was made by Horacio Rodriguez Larreta — head of the Buenos Aires authorities — on a current Zoom name. This initiative is a part of a digitization push the town is planning to execute to broaden the entry of residents to paperwork and authorities companies.

This plan, known as “Buenos Aires+,” seeks to “simplify and streamline the hyperlink with residents and the town,” in accordance with Larreta. On the significance of blockchain for this digitization push (that seeks to automate 70% of formalities throughout its first yr of implementation), Diego Fernández, secretary of Innovation and Digital Transformation, said:

I imagine that blockchain know-how will give the federal government the chance to make all its acts extra clear and encourage the participation of residents in a deeper manner.

This proposal is just like the one introduced by the federal government of Rio de Janeiro in March, which additionally introduced it would settle for cryptocurrency as fee for some sorts of taxes beginning subsequent yr.

Digital Identification Challenge

One of many key tasks that the town is seeking to full is the implementation of a digital ID system, that may let residents simplify doc requests and funds made to the town. The system additionally strives to be interoperable, which means that a number of organizations of the federal government may work together with it in numerous methods. This might additionally ostensibly assist to streamline time-consuming errands amongst completely different authorities places of work, giving the citizen the chance of managing all their duties in the identical system.

Different public organizations might join their methods to this hub, permitting them to additionally make use of the information instantly. On this concept, Fernandez said:

Folks may have governance over their data. We’re creating a platform in order that they’ll know who’s requesting their knowledge and what they’re taking a look at. Every of those orders can be made in an open blockchain-based system.

Fernandez concluded by stating his crew goals to implement these knowledge administration use circumstances for 2023.

What do you consider Buenos Aires accepting cryptocurrency as fee for taxes? Inform us within the feedback part beneath.

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