{"id":68401,"date":"2022-10-11T15:15:06","date_gmt":"2022-10-11T12:15:06","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=68401"},"modified":"2025-09-07T13:56:03","modified_gmt":"2025-09-07T10:56:03","slug":"portugal-budget-proposal-includes-taxation-of-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/portugal-budget-proposal-includes-taxation-of-cryptocurrencies\/","title":{"rendered":"Portugal budget proposal includes taxation of cryptocurrencies"},"content":{"rendered":"<p>The Portuguese budget plan for 2023<a href=\\\"https:\/\/www.dgo.gov.pt\/politicaorcamental\/OrcamentodeEstado\/2023\/Proposta%20do%20Or%C3%A7amento\/Documentos%20do%20OE\/OE2023_Relatorio.pdf\\\"> proposes<\/a> the introduction of a 28% income tax on digital assets held for less than a year. Beyond this period, it is not envisaged.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>The tax would also apply to crypto transactions.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>The document also contemplates a 4% levy on intermediary commissions.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>The proposal will be considered in the coming weeks. Given the ruling party&#8217;s absolute majority, there are no anticipated obstacles to its approval.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>In May, Finance Minister Fernando Medina<a href=\\\"https:\/\/eco.sapo.pt\/2022\/05\/13\/medina-confirma-que-ganhos-com-criptomoedas-vao-passar-a-pagar-impostos\/\\\"> emphasized<\/a> that all income in the country should be taxed, exemptions are unacceptable. This will create a sense of legal certainty, laying the groundwork for the development of the crypto-economy, he added.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>In the United States, tax-evading clients of the cryptocurrency exchange SFOX<a href=\"https:\/\/forklog.com\/en\/news\/tax-evading-crypto-investors-in-the-united-states-come-under-irs-scrutiny\"> were targeted<\/a> <span data-descr=\\\"Internal Revenue Service\\\" class=\\\"old_tooltip\\\">IRS<\/span>.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>ForkLog previously reported on a family of Bitcoin nomads who <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-nomad-family-explains-move-to-portugal-due-to-tax-advantages\">moved to Portugal<\/a> due to the lack of taxes on digital asset transactions.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p> Read ForkLog&#8217;s Bitcoin news in our <a href=\\\"\/\/telegram.me\/forklog\u201d\\\" target=\\\"\u201c_blank\u201d\\\" rel=\\\"\u201cnofollow\u201d noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, rates and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Portuguese budget proposal for 2023 envisions a 28% income tax on digital assets held for less than a year. Beyond this period, it is not envisaged.<\/p>\n","protected":false},"author":1,"featured_media":68402,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1463,36,558],"class_list":["post-68401","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-portugal","tag-regulation","tag-taxes"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/68401","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=68401"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/68401\/revisions"}],"predecessor-version":[{"id":68403,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/68401\/revisions\/68403"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/68402"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=68401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=68401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=68401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}