Less than two years after Próspera in Roatan, Honduras, began accepting Bitcoin as an official currency, the region has now also acknowledged it as a standard measure for determining the value of products and services.
This decision, announced by Jorge Colindres, the current head and tax commissioner of Próspera ZEDE, aims to provide greater financial flexibility to both residents and businesses in the zone. Colindres shared this update in a post dated January 7 on the platform formerly known as Twitter.
However, Colindres pointed out that they are currently unable to introduce the “Final BTC Tax Payment Procedure” due to technological challenges with their eGovernance system and certain external regulatory obstacles.
At present, businesses that choose Bitcoin as their currency will calculate their tax obligations using BTC internally. However, they will still report these amounts to Próspera ZEDE in either US dollars or the Honduras lempira.
Colindres highlighted that once these challenges are addressed, these businesses will be able to report and settle their tax dues directly in BTC to Próspera ZEDE.
For those keen on adopting BTC as their primary currency, it’s essential to submit a formal request to Próspera’s tax committee within a 30-day window following the relevant tax period.
Original source: https://www.cryptotimes.io/honduras-zone-recognizes-bitcoin-as-official-unit-of-account/
