Crypto taxes regulations in Portugal

[0w1ck]

Hi guys, i just saw some news that portuguese regulation has no taxes for crypto->fiat.
This means income taxes + IVA?
This means there is literally no taxes and I can sell my crypto to a portuguese bank account?

https://cointelegraph.com/news/portugal-tax-authority-bitcoin-trading-and-payments-are-tax-free

 

[Conrectio]

0w1ck said:
Hi guys, i just saw some news that portuguese regulation has no taxes for crypto->fiat.
This means income taxes + IVA?
This means there is literally no taxes and I can sell my crypto to a portuguese bank account?

https://cointelegraph.com/news/portugal-tax-authority-bitcoin-trading-and-payments-are-tax-free
Click to expand...

If you are tax resident of Portugal and privately gain on sale of crypto as a hobby (not main source of income) it will NOT be subject to tax.

There are some more particulars, but that is the base line.

You are welcome to ask more in detail if interested, as we are right now structuring Portugal as a hub for certain crypto activities.

Mike