Quick Cashout Bitcoin - Portugal vs Malta for EU Citizen

[LiquiditySplash]

Why would something have to be legal tender to be⁢ taxed? If you buy and sell houses, cars, anything for a profit, then they will︀ will want taxes on those profits.

From what I have read, he could be correct.︁ Source:

https://mcs.pt/cryptocurrency-taxation-in-portugal/“it is also the understanding of the Portuguese Tax and Customs Authority that︂ the profits obtained from the sale of cryptocurrencies are not taxable under the Portuguese tax︃ system, unless by their regularity ends up constituting a professional or entrepreneurial activity of the︄ taxpayer, in which case it will be taxed as a qualifying income under the category︅ B (freelancing) of the Personal Income Tax Code”

So it sounds like if you are︆ trading crypto and the tax authorities decide you are doing it as a “professional or︇ entrepreneurial activity” then you should have paid tax. Not a risk I would want to︈ take personally, good luck arguing it’s not a professional or entrepreneurial activity if you are︉ trading and cashing out large amounts.

Maybe he is wrong about it being 1 trade︊ that triggers this, but unless there is a clear official guideline then it seems risky.︋

 

[Verbatim]

Have you found any country where it is next to impossible that you are considered‌ commercial trader? According to my research it could happen anywhere.

 

[jonnyG]

wtf wow⁠ so malta is only friendly for drug money then, jesus.
These offshores are bulls**t better⁤ stay and hold and wait for another "el salvador" in europe or pay the tax⁣

 

[dread pirate]

If you buy and sell houses and cars you are paid in legal tender ie⁠ Euro and taxed on the profits made in in Euro. My paraphrasing was accurate but⁤ English is not her first language of the attorney making these claims. Unlike much of⁣ the here say on here about crypto and the like, this is the pov from⁢ an actual person. Look her up, she is a real attorney. Look up the video,︀ not too hard to confirm for yourself. Not sure why you are joining the FUD︁ train, Jeez.
As for the difference between crypto traders and non traders cashing out, its︂ pretty obvious the government wants to stop people saying they are retired or digital content︃ makers or whatever and all the while they are trading and cashing out profits without︄ declaring their actually business activities. But I'm not an attorney in Portugal, go and ask︅ Maria or someone on the ground. Cheers

 

[pamboscy]

Can you please contact me regarding that? Im a cypriot and id love to know‌ who accepts bitcoin in property 🙂

 

[williamram]

If you sell cryptocurrency, it's a business activity and you have to pay tax.