Ontario Town In Canada Accepts Property Taxes in Bitcoin Now!!!
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.
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Source of Information: ccn.com
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