Hi everyone! In this video, we’re going to discuss the new crypto tax in Portugal that will come into effect in 2022/2023.
Portugal has been a front-runner in terms of cryptocurrency regulation since 2018, when the government passed laws to regulate the industry. Now, it’s taking another step forward by introducing a new crypto tax.
The new tax will apply to all income earned from cryptocurrencies, including capital gains, corporate profits, and other income. The tax rate will be determined by the type of income, with capital gains being taxed at the highest rate.
The tax will be collected by the Portuguese tax authority, and taxpayers will be required to declare their crypto income and pay the taxes due.
The government has also announced that it will be launching an online platform for taxpayers to declare their crypto income and pay their taxes. This platform will be available in 2022.
In addition, the government plans to introduce new regulations for the industry, including the introduction of anti-money laundering regulations and the establishment of a regulatory authority for the cryptocurrency industry.
Overall, the new crypto tax in Portugal is a positive step forward for the industry. It will provide clarity on how to declare and pay taxes on crypto income, as well as provide regulatory certainty for the sector.
We hope this video has given you an overview of the new crypto tax in Portugal and the regulations that will come into effect in 2022/2023.
