Buenos Aires Plans to Let Its Citizens Pay Taxes With Cryptocurrency

Vignesh Karunanidhi
Buenos Aires Plans to Let Its Citizens Pay Taxes With Cryptocurrency
Source: Inter-American Dialogue

The head of the government of Buenos Aires, Horacio Larreta, announced that the government would allow tax payments in cryptocurrency.

The announcement is a part of Buenos’s digitization plan. The initiative from the capital of Argentina will build the relationship between the city and its residents.

Crypto tax payments for Buenos Aires citizens

The Buenos Aires government will let its citizens make payments for tax proceedings in cryptocurrencies. As per the news published by a local news firm, the announcement was made by Horacio Rodriguez over a Zoom call.

The endeavor is a part of the city’s digitization plan. The plan revolves around the city’s plan to broaden citizens’ access to government services.

The futuristic plan called “Buenos Aires+” aims to shorten the gap between the citizens and the city, thus bringing them closer. Diego Fern├índez, secretary of Digital transformation and innovation, stated about blockchain:

I believe that blockchain technology will give the government the possibility of making all its acts more transparent and encourage the participation of citizens in a deeper way”

Diego Fernández

Rio de Janeiro had suggested a similar approach in the month of March, which suggested the acceptance of crypto for tax payments.

Source: Coinfomania

Buenos Aires looks to implement several initiatives with the city’s plan. One of them is the digital ID system which will allow the citizens to simplify the entire process of documentation and payments. The initiatives will also enable the citizens to manage different government offices and services in the same system.

The Argentine government is a huge promoter of the crypto ecosystem . It is probably the one that is most favoring it in the world by establishing stocks, taxes, fees and forms. It catches you, then people look for ways out .”

Diego Fernández

The different adaptations and technologies of the government will be moving at a slow pace but will gradually be caught up by the citizens.