Category: Cryptocurrency Regulation

Tax Framework for Cryptocurrencies in Portugal: Detailed Analysis for 2024

Legal Definition of Crypto Assets According to Law No. 24-D/2022 (State Budget Law for 2023), a crypto asset is defined as “any digital representation of value or rights that can be transferred or stored electronically using distributed ledger technology or similar.” It’s important to note that this definition excludes explicitly unique and non-fungible crypto assets… Continue reading Tax Framework for Cryptocurrencies in Portugal: Detailed Analysis for 2024

The NHR 2.0 – The new regime in town for expats in Portugal

NHR 1.0 – The old regime: Until the end of 2024, the transitory regime still applies under certain circumstances, which allows expats and investors to come to Portugal and still benefit from NHR – Non Habitual Regime, with the following benefits: NHR 2.0 – The new regime in town for expats in PortugalBenefits of Portugal’s… Continue reading The NHR 2.0 – The new regime in town for expats in Portugal

The Significance of Portugal’s Commitment to Automatic Exchange of Crypto-Asset Information: A Milestone in Global Tax Cooperation

In a move towards enhancing international cooperation in the battle against tax fraud and evasion, Portugal, along with 47 other jurisdictions, has pledged to commence the automatic exchange of information on crypto-assets starting in 2027. This commitment aligns with the globally recognized standard established by the OECD, known as the Crypto-Asset Reporting Framework (CARF). Global… Continue reading The Significance of Portugal’s Commitment to Automatic Exchange of Crypto-Asset Information: A Milestone in Global Tax Cooperation

Ultimate Guide for Crypto Taxation in Portugal for 2023

Portugal has updated its cryptocurrency tax policy, introducing new regulations for individuals and businesses in the country. The changes to the Personal Income Tax Code, effective January 1, 2023, define a “crypto asset” and cover capital gains, staking, mining, salary paid in crypto tokens, and the issuance of tokens. Capital gains from the sale of crypto assets held for less than 365 days are taxed at 28%. Profits from the sale of crypto assets held for 365 days or more are excluded from taxation. Portugal has also introduced guidelines for individuals who wish to open a professional activity in cryptocurrency.