Cliffo

Does anyone know latest situation? I have heard that crypto is not taxed at present. Is this likely to be the case in 2020?
is there any crypto exchange in Portugal?
Is there any contact group for residents in Portugal with an interest in crypto?
Thanks for any information you can provide.

Score76

Capital gains applies to crypto same as any other currency. The only difference is there is no way for the authorities to track movements (or gains) so it's entirely an honesty box. Personally I don't mind a big tax bill, it means I've had a good year.

Red Eric

Hi and welcome to the forum from me

Correct - except in the case that income derived from cryptocurrencies constitute a professional activity, the law as it stands does not allow for the taxation of it. That is explained in this article Porque é que criptomoedas não pagam imposto? O fisco explica which contains a link to a document produced by the tax authority itself explaining the whys and wherefores. Although that document was prepared in response to a 2015 request for advice and published in 2016, it remains the situation to date.

Impossible to tell but there hasn't been any mention in the news that I've seen about the prospect of introducing changes to the tax code on account of it.

Cliffo

First off, let me thank you for taking the trouble to reply.
It is much appreciated.
I know there can be no guarantees about the future and the best one can do is hope the current arrangements persist.
I hope to change tax residence to Portugal in 2020. I can manage French, English and Indonesian but have not yet tackled Portugese.
I will need the help of an English speaking "guide" to make my way through the various steps of the process and in the right order. 🙂 A
I will be heading for somewhere near Porto.
Can you or another member point in any direction? Contacts, solicitors, estate agents, accountants, crypto meet ups etc.
Every little helps as Tesco say.
Many thanks.

Cliffo

Red Eric

I can't help with any personal recommendations, I'm afraid but I shouldn't think you'll have too much bother finding English speakers in those professions.

Cliffo

​​​ How to find a starting point?
I don't know if you are in any way interested in crypto but do you know of any interest group or meet up or crypto exchange anywhere near Porto? I've googled it to death but came up empty.
I'm getting to grips with things like NIF and NHR etc but there seems little point in heading for Portugal until I get some idea about the crypto taxation. Not seeking financial advice.
Thanks.

Red Eric

I'm sorry, it's really not my bag - I only know the sources of the links I posted above are completely reliable as far as that info goes.

It's not a subject I remember having seen discussed on any of the Portugal forums I frequent.

Apparently there's a Facebook group : https://www.facebook.com/groups/CriptomoedasEmPortugal/

Cliffo

Many thanks Red Eric.
I genuinely appreciate the time and trouble you took to reply.
I'll follow up on the link.

Cliffo

Red Eric

You're very welcome. Sorry I couldn't be of any more help but someone else may still come out of the woodwork.

We're probably more knowledgeable between us on other subjects though, if or when you have other queries.