Portugal - New Crypto Tax ????

Get personalized advice about tax, asset protection, offshore banking, residency, and citizenships: https://calendly.com/michael-rosmer?month=2021-03
You can visit our websites for more information about us: https://offshorecitizen.net & https://www.offshorecapitalist.com

Our fears are finally coming to life - Portugal is introducing a new crypto tax!

Shock! Horror!

As you know, this country was appealing because it was tax-free for crypto gains. However, this is now a thing of the past, and Portugal is about to start taxing crypto.

So, how are they going to tax crypto?

Capital gains are taxed in Portugal at the rate of 28%, and crypto gains will be taxed at the same rate. This is only applicable to the short term holds, which are less than a year.
If you're a long term holder than this new crypto tax will not be applicable to you.

This is clearly not good, as you want to take the advantage of the market and sell when your crypto goes up! If it's been less than a year, you will have to pay 28% tax on your gains, which is far from ideal.

Does this mean that Portugal will lose popularity among the crypto squad? Almost certainly.

Who are we and what do we do?

We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.

We have lots of interesting articles on different topics, we have relevant information up to date.


Author: Michael Rosmer

Feel free to join our community!

Don’t forget to subscribe to our channel
https://www.youtube.com/channel/UCZDToCpuHc4kEHDurkQpVPg?sub_confirmation=1