Honduras District Próspera plans to use Bitcoin as unit of account and pay taxes in BTC

In April 2022, Honduras, an island country located on the Caribbean coast, announced that its employment development special economic zone "Próspera" would officially accept Bitcoin and other cryptocurrencies as legal tender. This move allows administrative district governments, local governments and multinational companies to issue Bitcoin bonds in the special zone, injecting new impetus into economic development. This decision marks Honduras’ pioneering status in the field of digital currency and is expected to serve as a model for other countries and regions around the world.

After more than a year, the Prospera District’s Technical and Tax Commissioner Jorge Colindres earlier today confirmed the official recognition of Bitcoin as a unit of account. This means that Bitcoin can now be used to measure the market value of goods and services. He wrote in a tweet: "We believe in the right to financial freedom and monetary freedom. People should be able to freely choose the currency they want for transactions, accounting and tax filing."

The next step is to plan to pay in BTC Tax

Jorge further added that due to technical limitations of the government’s digital system and some external regulatory issues, it is currently impossible to implement the final procedure for paying taxes in BTC. However, he noted that once these issues are resolved, businesses will have the ability to file taxes with Prospera ZEDE in BTC and pay the corresponding taxes.

Jorge described the Prospera zone as one of the "most competitive special regimes" in Latin America, which he said had received $100 million in funding during its three-year term and created more than 3,000 jobs.

The number of physical merchants in Central America that accept BTC payment is particularly prominent

According to BTC Map information, the number of stores worldwide that are willing to accept Bitcoin payment is currently growing. Especially in Europe, the United States, and Latin America, Bitcoin has the highest acceptance. It is predicted that more than 6,300 stores will accept Bitcoin payments by 2023, with the number more than tripling by the end of 2022. This shows the widespread recognition and adoption of Bitcoin as a payment method.

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