#cryptotaxinportugal #portugalcryptotax
\nCrypto tax in Portugal. For more information: <\/p>\n
Chapters:
\n00:04 The intro in the story about Portugal crypto tax client
\n00:40 Let’s talk about Portugal
\n01:07 Why crypto investors choose Portugal
\n01:38 The agent of crypto investors in Portugal
\n01:53 The tax and Golden visa package
\n02:02 Why we turned them down
\n02:33 Why this may not be the best solution for you
\n03:21 Where to find more information
\n03:23 Misconception about Portugal being tax-free
\n04:03 The conclusion and how we are different<\/p>\n
Crypto tax in Portugal is not a topic as simple and straightforward as many crypto investors believe. Moving to Portugal or the Caribbean with the goal of saving on taxes may or may not be the right choice specifically for you.<\/p>\n
One of the most common mistakes is the assumption that crypto trading is tax-free in Portugal.<\/p>\n
It\u2019s hard to have a conversation with anyone serious about investing before cryptocurrency comes up. I understand why so many people are passionate about it because the returns are rendering every other asset class as irrelevant. Understandably, nobody cares about anything else as long as crypto continues to perform as it does. <\/p>\n
Now the Portuguese Tax & Customs Authority (PTA) announced that buying or selling cryptocurrency in Portugal is tax-free. That has led to the establishment of a pretty active crypto community here in Portugal. But as with everything to do with taxes, there are important exceptions to note. Here are the two most important exceptions – <\/p>\n
The receipt of cryptocurrency in exchange for goods or services doesn\u2019t change the tax treatment of the original transaction, and
\nTaxpayers who deal in cryptocurrency as a professional or business activity (that is, active crypto TRADERS) are still subject to some taxes.
\nLet\u2019s talk about trading. As with everything in taxes, you should consult a qualified Portugal tax professional but there are several factors that determine whether one\u2019s trading activity is professional or not. <\/p>\n
These include:
\nA number of trades per day\/week\/month\/year.
\nHolding period
\nThe complexity of traded financial products
\nNumber of trading platforms used
\nDebt-to-equity ratio, credit financing
\nProfit level and relationship to other income
\nTraders\u2019 main activity<\/p>\n
In short, cryptocurrencies in Portugal are taxable if you do it as a professional trading activity. <\/p>\n
If you are a professional crypto investor considering Portugal or the Caribbean, you have to tread carefully, and we can help you to find the path that is most efficient specifically for you. <\/p>\n
Our website: <\/p>\n
Some of the articles and podcasts on crypto tax in Portugal:<\/p>\n
Our office in the United States:
\nAdvanced American Tax LLC
\n373 NE 211th Terrace,
\nNorth Miami Beach,
\nFlorida 33179, USA
\n+1 305 517 7991
\nZarah@AdvancedAmericanTax.com <\/p>\n
Our office in Portugal:
\nHTJ Consulting Unipessoal, Lda
\nAv. Ant\u00f3nio Augusto de Aguiar 74 R\/C, Dto, 1050-018 Lisboa, Portugal
\nPhone in Portugal: +351 912 659 242
\nEmail: Hanna@AdvancedAmericanTax.com<\/p>\n
Facebook:
\nInstagram: <\/p>\n
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Crypto tax in Portugal. For more information: <\/p>\n