MultiversX Tracker is Live!

Portugal NO MORE a bitcoin tax haven in 2022+...?

Bitcoin Reddit

More / Bitcoin Reddit 227 Views

Is/Will Portugal still be a bitcoin tax haven in 2022 onwards...?

There are a couple of bitcoin "tax havens" where you, under certain circumstances, dont pay ANY tax (zero tax) on your bitcoin/crypto selling... These in the past were mainly: Portugal, Malta, Slovenia, Germany (1 year hold), Switzerland, Belarussia, El Salvador, Singapore, Malaysia... Maybe few more, but AFAIK these were the main ones and mentioned over and over and over again in BTC tax heaven discussions...

Im talking here mainly about "basic" situation: You own crypto as an individual (not a company), you dont really trade it (at least not often or periodically, or profesionally).

Im looking for a country to move my tax residency in 2022 in order to pay zero or minimal bitcoin tax...

Portugal was long on top of my list, but over the last year i grew more and more worrisome... Shortly put it - i dont think the situation with no tax on crypto will remain there for much longer...

1) Im thinking this way mainly because of the fact that crypto was (is) tax free in Portugal by accident more or less. There were no dedicated crypto tax laws because PT GOV is slow and "old" in this regard, and they didnt even managed to put it into any existing tax category (like stocks for example) as many other states managed to do.

2) Portugal is overall and never has been "tax light", or "tax friendly" country.

3) Portugal GOV is quite leftists (afaik)

4) There has been A LOT OF people moving to portugal recently (recent year or two) to take advantage of the no crypto tax, the NHR taxy regime, or the "somewhat" friendly visa programs (like golden visa) mainly for NON EUROPEAN people... I got this "info" from various (more then one) "sources"

5) There are most likely quite a lot of crypto milionaires living in Portugal currently, who are trying to take advantage of the (so far) no crypto tax law enviroment... I have a hard time believing Portugal gov. didnt notice (or wont soon notice) this and wont start to move to secure some nice money from these people... There is probably a lot of potentional revenue just "sitting there" and i, again, have hard time believing Portugal gov. wont try to tap into that money...

6) A lot of people "in the know" quite recently stated that yes, BTC is so far tax free, but this wont remain for ever or even for long for that matter...

7) Other European states have already somewhat "started" to move "against" "no BTC tax (laws) enviroment" on crypto - Austria will remove (already did) the 1 year hold period in which BTC is tax free, from March 1st 2022, this no longer applies.

Slovenia is planning to introduce new BTC tax (10% and 25%) on crypto. They wanted to do it from 1st of January 2022, but somehow fuc*ed up and will introduce it probably from january 1st 2023...

This all makes me HIGHLY worrisome for the (near future) situation of Portugal and its "no tax" on crypto regime... I have hard time believing this will hold much longer...

My questions (for people who are even more familiar with this issue than me):

1) All i have written is correct?

2) Is there any chatter or rumours etc. in any level of government or tax officials, or officials in general, that this should change soon...? That someone is already preparing some law or proposal or discussion etc...?

3) If any such rumours will start, and PT government will try to move against not taxing crypto... How long would such proces take approximately..? From 1st discussions about taxing crypto to final law...? Can they make it rather quickly (few months), or do u think it will take time...? (like a year at least...?) Dont forget that there is probably some serious money on the line, and even the traditionaly slow Portuguese gov. might move lighthing quickly to GRAB those monies...

4) If one wants to move to some country in 2022 to pay no tax on his (selling of) crypto, you would advice to NOT choose PT anymore, since even in 2022, it will be too much of a risk..?

Any Input on Portugal staying a '"no BTC tax" country in 2022 onwards is appreciated...

Thank you

EDIT: Here are some links regarding BTC tax situation in PT for those who dont know about these sources

https://jeangalea.com/portugal-crypto-bitcoin/

https://www.youtube.com/c/CryptoTips/search?query=portugal

https://www.youtube.com/c/OffshoreCitizen/search?query=Portugal

submitted by /u/FineNobodyXYZ
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments