Innisfil which is a town in Ontario and has the population of 36,000 has approved the project that they allow the residents and other local businesses to pay their property taxes in bitcoin. This new payment option will come in effect from next month.
Innisfil says as compared to credit or debit cards paying property taxes using Bitcoin will be cheaper as the processing fee will be only 0.5% than 1.75% of credit cards fee.
Innisfil has partnered with the Canadian fintech firm Coinberry Pay in this project.
Last year Ohio has also announced that taxes could be paid in bitcoin but they were not able to hold any cryptocurrency.
Innisfil is the Canada’s first municipality to accept the payment method of Bitcoin. No cryptocurrency will be held in its name and once the user will pay the tax the amount will be immediately converted into Canadian dollars by Coinberry and will be deposited into Innisfil bank account.
Thanks! That was all for you.
Do you agree that the method of paying for things, taxes and other stuff through Bitcoin sounds goods???
Do share your prank idea and views in Comments and Upvote.
Do share your views in Comments and Upvote.
For more such interesting posts don't forget to Follow...!!!
Source of Images: Pexels.com
Source of Information: ccn.com
drakoscliff
Posted using Partiko Android
Thank you so much for being an awesome Partiko user! You have received a 0.41% upvote from us for your 100 Partiko Points! Together, let's change the world!
You support me I support u
Posted using Partiko Android
Congratulations @drakoscliff! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!