Portugal will have new crypto regulations with the start of 2023.
Changes:
– All trades that were closed within a year are taxed.
– Crypto exchanges in Portugal will be taxed.
– Crypto currencies with 0 fees will be taxed.
The F.A.Q after during the meetup
1. Why 28%?
2. Why so fast implemented?
3. How to calculate Capital Gains?
4. Can you buy property in Portugal with crypto?
5. Is getting paid in crypto taxed?
6. Why can´t Portugal make crypto taxation easier?
7. What is the impact of the NHR status?
8. If I cash out my profits in a stablecoin and I buy products with my Binance card. Is that considered Capital gains?
💻NEW WEBSITE: www.cryptotaxesportugal.com
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I am not a financial advisor. This video is only meant for entertainment purposes. Before you invest, do your own research or contact a certified financial adviser.
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Great Video!!! Thanks for the update!!
Great video!! As unexpected, LOTS of gaps. And as it seems with the NHR status it's easy to avoid the taxes whatsoever 🙂
Im contemplating moving to Portugal soon. This video raised more questions.
Lets say I own tokens for over a year on the ethereum chain. During the peak of a bullmarket I cash them out to stablecoins. If I cash out my tokens to stables first and them send them to an exchange to cash out. Doesnt this mean I have held a certain crypto (in this case the stablecoins) for just a little while, and therefore and forced to pay taxes on them? There is no way to cash out the eth tokens straight to fiat, so a medium is required. In this case the medium is considered a crypto by itself. So now one has to hold the stablecoins for a year aswell ?
Ps, thank for the video 🙂
Great stuff as always. I'm making a video now for what I think may be the final leg down for crypto in NOV after the midterm elections in the U.S. Generational buy opportunities incoming! Again, appreciate the content and keep up the great work.