Portugal is a tax haven for cryptocurrencies – Economy
In Portugal, profits made on the purchase or sale of virtual currency, as well as an exchange of cryptocurrencies for fiat money, are not subject to any tax.
The explanation was given to the North American television network CNBC by Shehan Chandrasekera, from the CoinTracker firm, following the success of the Dutch Taihuttu family, known as the ‘Bitcoin Family’. The Taihuttu sold everything they had in 2017 and invested everything in bitcoins. With what they earn, they will definitely seek to travel around Europe, in the country that has a more favorable tax regime for cryptocurrencies. At the beginning of this year they settled in Portugal.
When considering cryptocurrencies as a form of payment, our country is one of the Europeans, who use virtual currencies in a similar way to assets or real estate, as in neighboring Spain, in the United States, in the United States, in the United States “This makes Portugal is an extremely attractive place for cryptocurrency users”, says Chandrasekera.
A single exception refers to companies registered in the country, which trade with cryptocurrencies. “If someone earns bitcoins while providing services in Portugal, they have to pay taxes on those cryptocurrencies”, he says.