CRYPTOCURRENCY CALCULATIONS IN PORTUGAL

CRYPTOCURRENCY CALCULATIONS IN PORTUGAL

The United States may be taking a hard line on cryptocurrency, but the Portuguese Tax & Customs Authority (PTA) has announced that buying or selling cryptocurrency in Portugal is tax-free, so if you have an interest in crypto tax in Portugal, read on.

Portugal has taken the opposite tack: it made clear that buying or selling cryptocurrencies would not be subject to capital gain taxes or value-added tax (VAT). The PTA previously clarified in 2016 that buying or selling cryptocurrency in Portugal would not be considered a taxable event which means that it’s not subject to tax. There are exceptions: the receipt of cryptocurrency in exchange for goods or services doesn’t change the tax treatment of the original transaction, and taxpayers who deal in cryptocurrency as a professional or business activity are still subject to some taxes.

Cryptocurrencies or virtual currencies are not technically considered money due to not having legal tender in Portugal. However, they can be exchanged, with a resulting profit, for real currencies (euros, dollars, or other) at exchanges, with the prices being determined by the demand for said cryptocurrency.

Thus, cryptocurrencies can generate different types of taxable income:

• Gains obtained from the purchase and sale of virtual currency units/exchange from the cryptocurrency to real currency (whatever it may be)
• For obtaining commissions for the provision of services related to obtaining cryptocurrency.
• For gains derived from sales of products or services in cryptocurrency

This document only considers the first scenario. This is the scenario faced by most crypto investors.

The profits from this activity are candidates for three categories of income types:

• Capital Gains – category G (e.g. sale of an apartment, sale of shares)
• Capital Yields – category E (e.g. rent of an apartment, dividends)
• Professional Income – category B (e.g. consultancy, freelance work)

Cryptocurrency lawyer in Portugal

Legal assistance on crypto issues in Portugal

• Legal use of cryptocurrency
• Legalization of income received from operations with crypto and investments in cryptocurrencies
• Mining Bitcoin and Ethereum
• Consulting on IEO
• Taxation of withdrawal of assets in fiat money
• Legal support of ICO and IEO projects
• Structuring of blockchain companies
• Assistance to crypto investors
• The assistance of a lawyer on cryptocurrency investments
• Registration of ICO/IEO/Defi and Mining

We provide full legal support for transactions with cryptocurrencies, ICO / IEO, Defi registration, and organization of cryptocurrency mining, which is why you landed on this page when you entered “cryptocurrency legal help”, “cryptocurrency lawyer”, “bitcoin legal advice” into the search engine. help with cryptocurrencies”, “bitcoin consultations”, “lawyer’s advice on cryptocurrencies”, “blockchain contract”, “Ethereum contract”, “legal advice on cryptocurrencies and taxes”

Legal assistance in Portugal– Bitcoin and cryptocurrency.

Therefore, the assistance of lawyers in matters of cryptocurrencies, their mining, registration of IEO, Defi, and other crypto projects is a set of measures aimed at registration of such relationships in full compliance with the current legislation of Portugal and the EU.

The most common questions to our lawyers are:

Payment for services, works, real estate, and other assets in Portugal with Bitcoin (BTC) and Ethereum (ETH). Truth or myth?

In which cities in Portugal can you exchange Bitcoin, Ethereum, Ripple, and other cryptocurrencies?

How to buy goods for bitcoin in Portugal?

You can get answers to these and other questions by calling our lawyers or by leaving your phone number.

For example, cryptocurrency in Ukraine is not recognized as a means of payment, and due to some regulations and positions of central authorities, it is equated to surrogate money.

Our lawyers are perfectly versed in all the trends in the regulation of cryptocurrency in the world, including in Ukraine, and guarantee the most protected ways of using it.

Crypto exchange in Portugal.

Buying and selling cryptocurrency in Portugal through Law Firm Prykhodko and partners is profitable and safe.