Portugal introduces 28% crypto tax with a Twist – Katoch Tubes

Portugal crypto tax deCoded

Portugal & Crypto

Portugal is seen as a safe haven for crypto investors in Europe. The country has witnessed the rise in crypto adoption that demands regularity in the form of taxation of crypto assets.

What's the news?

Portugal's finance minister has proposed flat 28% crypto tax on cryptocurrency gains but with a special condition.

The Condition

The 28% crypto tax is applicable only on the assets held for less than 365 days or 1 year.

Will transactions taxable?

Crypto transfers & commissions from Brokers  will be taxed if the proposal gets the approval.

Is it good or bad?

Taxing cryptos makes it legal. If approved, this move will benefit the who crypto community of Portugal & Europe

Worst Taxation

While Portual taxation seems fair, its the Indian taxation on cryptos that's the worst in the world. It stands at 30% on gains +1% TDS on every transaction

EU Sanctions

Swipe up to read EU sanctions against Russia

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