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The Prospera Special Economic Zone in Honduras has officially recognized Bitcoin as the accounting unit

2024/01/08 03:17

According to Cointelegraph, the Roatan Island Economic Zone Prospera in Honduras has officially recognized Bitcoin as a unit of account, which can now be used to measure the market value of goods and services. The development project was led by Jorge Colindres, the agent manager and tax commissioner of Prospera Employment and Economic Development Zone (ZEDE), on January 5th. However, Colindres stated that due to technical limitations of the electronic government system and external regulatory issues, the "final BTC tax procedure" cannot be implemented at present.

Currently, for internal accounting purposes, the tax obligations of entities that choose Bitcoin will be determined based on Bitcoin but reported to Prospera ZEDE in US dollars or Honduran lempiras. Once the issue is resolved, entities will report their tax obligations to Prospera ZEDE in BTC. Those interested in using BTC as a unit of account must submit a notice to the Prospera Tax Commission within 30 days after the relevant taxation period.

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