Portugal: profits with bitcoin do not pay taxes – bitcoiner today
Capital gains from the sale of bitcoins or other cryptocurrencies are not subject to taxes te Portugal, according to the Ministry of Finance
Investor rente ter digital currencies is growing after the latest euphoria surrounding the most valuable cryptocurrency, bitcoin. And who wants to invest te thesis currencies has an incentive ter Portugal. It is that the profits from your sale are not subject to taxes te Portugal. The information is from the Ministry of Finance: “The sale of bitcoins is not subject to IRS taxes against the Portuguese tax system, especially ter the category E – Capital – or G – capital gains,” he told DN/Mad Money an official ministry source. Only capital gains will be taxed “when, due to its regularity, it constitutes a professional or business activity of the taxpayer, te which case it will be subject to taxation te category B”, he added.
Pedro Gaspar is a paid employee and recently embarked mining, that is, creating another digital currency: Monero. Do not proclaim ter your IRS the capital gains obtained with the sale of criptomoedas. “I got informed with a lawyer and ter Portugal there is a legal vacuum,” he said.
But the situation is not clear and the investor exposes some concerns. “How do you know if it is an investment or a professional activity?” He asks. Therefore, you have some precautions te your transactions. “When I sell, I choose to do the business directly with the buyer (peer-to-peer) and receive the payment ter specie,” he said.
Ricardo Filipe, on the other arm, lives on the purchase and sale of bitcoins and chooses to proclaim the profits earned with that activity. “I want to be careful not to have problems te the future.”
Te view of the doubts, some digital currency enthusiasts te Portugal are considering having a base te Malta, a country where the effective tax rate for non-residents is only 5%.
Clearer for Finance is the taxation of value-added tax (VAT) on goods and services purchased with cryptocurrencies. “According to information from the Tax Authority, the products bought with bitcoins pay VAT,” said the official source of Finance.
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