Latest news with #LCIs
Arabian Post
16-06-2025
- Business
- Arabian Post
Brazil Abolishes Crypto Tax Exemption, Introduces 17.5% Flat Levy
Brazil has revoked its exemption for small-scale cryptocurrency gains, imposing a uniform 17.5% capital gains tax on all digital asset profits, effective from 12 June under Provisional Measure 1303. The measure replaces the previous tiered system—which allowed monthly tax-free crypto gains of up to R$35,000 and progressive rates of 15–22.5% for larger profits—and now applies to all holders, regardless of volume or wallet type. The overhaul extends beyond exchange-traded assets to include self-custodied holdings and offshore crypto portfolios. Taxation occurs quarterly, with losses offsettable against gains over a rolling five-quarter period, although this allowance will narrow in 2026. Smaller retail investors, previously shielded from taxes on modest gains, now face a significant shift. Under the old system, a casual trader earning R$30,000 in profits paid no tax; the new regime means a payable R$5,250—a leap from zero to 17.5%. Conversely, high-net-worth individuals stand to benefit: gains previously taxed at up to 22.5%—notably on trades above R$30 million—will now bear the lower flat rate. ADVERTISEMENT This tax reform is part of a wider fiscal realignment aimed at broadening revenue sources. Previously untaxed fixed-income instruments like LCIs, LCAs, CRIs and CRAs are now subject to a 5% profit tax. Operators within online betting are also affected, with tax rates rising from 12% to 18%. The government had initially attempted to raise the IOF financial transaction tax, but withdrew following resistance. The shift reflects Brazil's position as Latin America's largest crypto market, ranked among the world's top ten in adoption. Government officials say the move is designed to simplify taxation, close loopholes—particularly for self-custody and offshore holdings—and treat crypto assets on par with traditional investments. In March, Brazil's Congress debated legislation to permit partial wage payments in Bitcoin, allowing up to 50% of salaries to be paid in crypto for domestic workers, and 100% for foreign contractors, under central bank supervision. While still under review, this bill indicates a dual approach: while levying stricter taxes, the state is also exploring broader integration of crypto into economic life. Analysts suggest that while this latest policy may place increased pressure on small-scale traders, it could attract institutional investors seeking tax certainty. 'Brazil now offers a clear, flat tax regime' for asset managers, said a financial strategist in São Paulo, referring to the capped 17.5% rate for large holdings. Market observers caution, however, that the removal of tax-free gains may cool participation among casual investors, potentially reducing liquidity. With the reform's full implementation and impact on compliance still unfolding, the crypto sector is bracing for a recalibration in trading dynamics.
Los Angeles Times
20-02-2025
- Automotive
- Los Angeles Times
Costa Mesa class to teach the nuts and bolts of bike safety
Costa Mesa city officials were looking to create a comprehensive bicycle safety education program in 2023 when they collaborated with the L.A. area nonprofit Walk 'n Rollers to develop a program for schools and the greater biking community. Working together under a $150,000 professional services agreement, the team created a roughly one-year pilot program that would bring bike safety classes to students in about 20 school campuses and offer workshops where adults and kids could sharpen their bike skills and know-how and get free helmets, equipment and more. Those offerings, which have already reached thousands, will continue throughout the 2024-25 school year in accordance with the City Council-approved contract. But a crucial third component of the plan — the one that will effectively extend the temporary pilot into an ongoing city program — is just beginning to take shape. A Smart Cycling Class, being held this Saturday from 9 a.m. to 4 p.m. at the city's Balearic Community Center, is designed to help those interested in bicycling learn the intricacies of bike safety and about possibly becoming certified cycling instructors through the League of American Bicyclists. Brett Atencio Thomas, Costa Mesa's active transportation coordinator, said while anyone of any skill level is welcome to attend the free class, the idea is to take the city's bike education program from something led by an outside nonprofit to a curriculum run by the city and residents. 'This is basically a train-the-trainers program,' Thomas said Wednesday. 'We don't want to say at the end of the school year, we're done. We want to walk away with something where we can keep going.' Participants of the daylong course will be brought up to speed on the rules of the road, sharpen their on-bike skills, enjoy a group ride and learn more about the rise in use of electronic bicycles. Students may also complete an optional on-site exam that will allow them to then enroll in one of a series of seminars held by the League of American Bicyclists to become certified League Cycling Instructors (LCIs) capable of participating in future school-based programs and community workshops in Costa Mesa. Once certified, instructors can even come back and help lead future Smart Cycling Classes held by the city, Thomas said. 'This leads in the direction of getting people trained in the ability to train other people to ride bicycles,' he added. 'We want LCIs here in the community to keep this program going.' Balearic Community Center is located at 1975 Balearic Drive, in Costa Mesa. To learn more, visit
