Portugal’s new tax policy suggests a 28% short-term capital gains tax on crypto profits
Join Our Telegram channel to stay up to date on breaking news coverage Portugal is set to impose taxes on cryptocurrency investors . These taxes will be introduced through new rules highlighted in its draft budget. The tax will be imposed on crypto capital gains profits and a wide range of other new taxes. Portugal proposes a 28% short-term capital gains tax According to a report by Bloomberg, the proposal will be part of the Portugal 2023 draft budget. The proposal defines new tax rates for cryptocurrency investors in the country. The proposal seeks to increase revenues in the country. One of the provisions introduced in this bill suggests taxing gains on cryptocurrencies that have been held for below one year. The proposal suggests that the tax be deducted at a rate of 28%. The other parts of this draft budget have also said that taxable income could be created from cryptocurrency mining and issuing activities. The budget has also proposed a 10% tax on cryptocurrency trans...