Venezuelan CPA Jan Domínguez has highlighted that despite the rapid growth in local crypto asset trading in 2025, these transactions are expected to account for less than 1% of total tax revenue in the fiscal year. Domínguez noted that many businesses and merchants are not separately declaring crypto asset gains, instead treating them as foreign exchange gains or losses. This practice results in actual on-chain fund flows not being fully reflected in tax data.
Additionally, Domínguez pointed out a significant increase in the use of USDT in Venezuela due to oil settlement demands, with related transaction volumes potentially doubling in the latter half of 2025.
Venezuelan Crypto Transactions Underreported in Tax Filings, Says CPA
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
