Crypto assets represent values or rights in digital format that can be transferred and stored electronically. Although they can be used to make payments, due to their volatility, they are primarily adopted as investment assets.
The most common crypto assets in the current market include:
Regarding taxation, as of January 1, 2023, with the entry into force of the State Budget for the same year (Law No. 24-D/2022, December 30), a new taxation regime for crypto assets in Portugal was established, as detailed in this leaflet. However, it is important to consult the applicable legislation for a complete understanding.
As a part of its effort to attract foreigners, Portugal introduced the “Non Habitual Residency” tax regime and this regime encompasses a number of tax exemptions and privileges and its main aim is to provide an opportunity to optimise taxes.
With NHR in Portugal it is very convenient to trade and receive benefits from cryptocurrencies.
Generally speaking, most foreign-source income is tax exempt in Portugal.
You need to have a NIF and a permit to stay legally in Portugal (EU citizenship or Portuguese residency).
The NHR allows you to optimise your tax payouts and greatly reduce what you owe in taxes to the government.
Need A Consultation ? Call us today +351 961 944 703 or email us : info@portugalforforeigners.com
Copyright © 2024 Portugalforforeign. All rights reserved.