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/biz/ - Business & Finance

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File: 30 KB, 838x629, portu.jpg [View same] [iqdb] [saucenao] [google]
5756510 No.5756510 [Reply] [Original]

Tax free crypto gains in Portugal is largely a meme. It may be true now but that's only due to there being no regulations whatsoever on behalf of the ministry of finance, central bank and the tax authority
It's also not guaranteed as it is because no one can give you a straight answer and capital gains are taxed at a very high rate here.

tl;dr don't come to Portugal if you're planning on a tax free crypto life and cashing out

>> No.5757142

bump

>> No.5757247

>>5756510
i wouldn't go to portugal because it's a dump but thanks

>> No.5757432

>>5757247
depends on where you're from and depends on where in Portugal you move to
the idea is of course having 0% tax on crypto while still enjoying european standards of living in many respects

>> No.5757529
File: 62 KB, 789x442, ethereum.jpg [View same] [iqdb] [saucenao] [google]
5757529

>>5756510
Isn't the government like a commie coalition anyway?

Who the fuck would bring their money to a communist-ruled country just because they still haven't figured out there's a loophole, if that loophole actually exists, which from all my sources, doesn't.

>> No.5757560

>>5757529
what sources are those?

>> No.5757570

Bitflur says hello

>> No.5757752
File: 153 KB, 800x1576, sVmLNag[1].png [View same] [iqdb] [saucenao] [google]
5757752

>>5757529
There's no loophole. It's basic legislation, which they don't intend to change, for now anyways. Your sources are wrong.
You can't be taxed for financial activity on internet currencies because there's no model for it. If you do it by yourself, of course. If you do it through a company, the company is taxed, like any other would be. If you are by yourself, there's no taxes involved at all.

The only problem is that some banks are catching up to this shit and won't allow you to deposit to, say, Coinbase, for example. Just use an online bank that allows you to create free accounts to get around this.

Pic related. Not that you can read Portuguese anyway. But basically, it's the equivalent to the american IRS confirming that there's no taxes if you're not a company.

>> No.5757752,2 [INTERNAL] 

>>5757752,1
Thank you for sharing this with us.