Do I have to report the purchase of an NFT to the tax authorities?

Select jurisdiction

Brazil

Yes. Communication takes place through DIRPF (Income Tax Declaration), using the correct code. Normative Instruction 2065/2022 and Income Tax Manual – item 455.

Fabio Cendão

Intellectual Property and Innovation

A purchase of an NFT is considered a sale of the cryptocurrency you use to conduct the purchase. A sale of cryptocurrency is a taxable event that must be reported to the tax authorities. If you buy an NFT with fiat, you do not need to report the purchase to the tax authorities.

Elvin Sababi

Regulatory and Compliance (including AML), NFT IP rights, Crypto taxation