Portugal Votes Down Bill to Impose Crypto Taxes
The country is a booming tax haven for crypto investors.
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The country is a booming tax haven for crypto investors.
Portugal government has been taking steps to make crypto a more familiar concept in the nation. Making crypto tax free, is one of the biggest moves in that direction. An emigrant to Portugal in February praised the nation’s crypto adoption method. He went on to predict that one day bitcoin might become their legal financial currency.
The Portuguese Parliament, rejected not one but two different proposals to tax Bitcoin and other cryptocurrencies.
Portugal has long been regarded as a cryptocurrency tax haven, and the trading of cryptocurrencies has been tax-free since 2018. In addition, trading digital assets is not considered investment income in Portugal.
The Government has today approved the proposed State Budget for 2022 at an extraordinary meeting of the Council of Ministers, a document that will be delivered...