Portugal considers a tax on cryptocurrencies

Portugal plans to impose a tax on cryptocurrency gains in a major policy change for one of Europe’s most cryptocurrency-friendly states.

- Advertisement -

Portugal currently does not tax profits from cryptocurrency transactions unless they are derived from professional or business activities.

But as Bloomberg reports, this is about to change.

The draft budget for 2023 foresees that gains from digital assets held for less than a year will be taxed. The gains will be taxed at 28%, according to the draft submitted to parliament on Monday.

Digital assets held for more than 365 days would continue to be exempt from tax, according to the draft.

- Advertisement -

The draft budget, which still needs to be approved in parliament, says that profits from the issuance of new cryptocurrencies and mining activities will also be counted as taxable income.

The government will also introduce a 10% tax on the free transfer of cryptocurrencies and a 4% rate on commissions charged by brokers for cryptocurrency transactions, according to the draft budget.

Previous Articles:

- Advertisement -

Latest News

Betterment warns: disregard unauthorized crypto promotion now

Betterment warned customers to ignore an unauthorized crypto promotion message sent via a third-party...

34 arrested in Spain in Black Axe transnational operation EU

Law enforcement arrested 34 people in Spain linked to the transnational group Black Axe.Authorities...

Bitdeer Sells BTC, Faces SEAL04 Chip Class-Action Suit Today

Bitdeer sold 99.1 BTC during the week, leaving 1,900.9 BTC on its balance sheet.The...

MuddyWater deploys RustyWater Rust RAT in Middle East attack

MuddyWater has deployed a Rust-based implant called RustyWater against Middle East diplomatic, maritime, financial,...

BRICS Gold-Backed Unit Pilot Launches as Dollar Alternatives

The pilot BRICS Gold Unit launched on October 31, 2025, as a digital settlement...
- Advertisement -

Must Read

26 Best Investment Audiobooks on Audible

Looking to expand your financial knowledge? Me too..When I first started investing, I was completely lost. There were so many terms, strategies, and theories...
Bitcoin (BTC) $ 90,470.00 0.16%
Ethereum (ETH) $ 3,088.86 0.23%
XRP (XRP) $ 2.09 0.21%
Bittensor (TAO) $ 283.45 0.58%
Polkadot (DOT) $ 2.12 2.90%
Cardano (ADA) $ 0.389134 0.56%
Chainlink (LINK) $ 13.18 0.45%
Hyperliquid (HYPE) $ 24.45 4.02%
Monero (XMR) $ 461.03 1.08%
Hedera (HBAR) $ 0.11994 0.79%
Toncoin (TON) $ 1.78 1.88%