How does Portugal tax cryptocurrency earnings?

1 answers

• geonwuleNov 03, 2022 · 4 years ago
  When it comes to taxing cryptocurrency earnings in Portugal, there are different rules for individual investors and those engaged in cryptocurrency trading as a business. For individual investors, gains from cryptocurrency are subject to capital gains tax. The tax rate varies depending on the holding period, with gains held for less than 12 months taxed at the individual's marginal income tax rate, and gains held for more than 12 months taxed at a flat rate of 28%. However, if you are trading cryptocurrency as a business, the earnings will be subject to corporate tax. It's important to consult with a tax professional and keep accurate records of your transactions to ensure compliance with the tax regulations.
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