Honduras economic zones allow the use of Bitcoin as a unit of account

2024-01-07 23:47:41

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ChainCatcher news, according to Finbold, the Honduras Economic Zone Próspera ZEDE has officially recognized Bitcoin (BTC) as a unit of account. This move effectively acknowledges the legitimacy of cryptocurrency in various commercial, tax, and financial transactions. The acting manager and tax commissioner of the zone, Jorge Colindres, announced this news on January 5 and outlined the conditions under which legal entities can use Bitcoin as their unit of account.

Before the final BTC tax payment procedures are implemented, the tax obligations of entities choosing Bitcoin will be determined internally in reference to BTC, but reported to Próspera ZEDE in USD or local currency. After the final BTC tax payment procedures are implemented, tax obligations will be reported in BTC, and entities will pay the corresponding amounts to Próspera ZEDE in Bitcoin.

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