Buenos Aires, Capital of Argentina to allow citizens to pay taxes with cryptocurrency

Buenos Aires, Capital of Argentina to allow citizens to pay taxes with cryptocurrency
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Economy

Buenos Aires, Capital of Argentina to allow citizens to pay taxes with cryptocurrency

Horacio Larreta, the head of the government of Buenos Aires, Argentina's capital, said that the city will allow residents to pay some taxes with cryptocurrency.

04/30/2022

This is part of the city’s “Buenos Aires+” digitization initiative, which aims to simplify the city’s connection with its citizens.

Buenos Aires Government to Introduce cryptocurrency tax payments

The government of Buenos Aires, Argentina’s capital, intends to allow citizens to pay some taxes with cryptocurrency. According to local media, the statement was made on a recent Zoom call by Horacio Rodriguez Larrata, the head of the Buenos Aires administration. This program is part of a city-wide digitization push to improve citizens’ access to documents and government services, Bitcoin News.

According to Larreta, the goal of this initiative, dubbed “Buenos Aires+,” is to “simplify and streamline the interaction between citizens and the city.” On the significance of blockchain in this digitization push (which aims to automate 70% of formalities in its first year of implementation), Diego Fernandez, Secretary of Innovation and Digital Transformation, stated:

“I believe that Blockchain Technology will enable the government to make all of its actions more transparent and inspire individuals to participate more deeply.”

This suggestion is like one made in March by the government of Rio de Janeiro, which also declared that it will accept cryptocurrency as payment for some types of taxes beginning next year.

Digital Transformation Project

The digital ID system’s creation allows citizens to ease document requests and payments made in the city, which is one of the key initiatives that the city wants to fulfill.

The system also attempts to be interoperable, which means that different government agencies may interact with it in other ways.

It may presumably assist and streamline time-consuming errands between different government agencies, allowing citizens to manage all their chores on the same system.

Other government agencies might connect their systems to this hub, allowing them to use the data directly. Fernandez elaborated on this point:

“People will have control over their data. We’re working on a platform that will allow them to see who has access to their data and what they’re looking. And will process each of these orders through an open blockchain-based system.”

By Elah Mae Ariate Wozinga Staff

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