Is it true; no capital gains tax in Portugal on FX??

Aug 30, 2020 at 09:49
3,530 Views
14 Replies
Member Since Sep 29, 2019   1 posts
Aug 30, 2020 at 09:49
Hello folks

I am wondering if by any chance there is someone who could clarify for me whether it's true or not. I discovered that in Portugal there is no capital tax gains when it come's to currencies, including cryptocurrency such as bitcoin.

I made up my mind a while ago that I am moving to Portugal, namely Algarve - without thinking about tax benefits. Now that I've looked into it, it seems that everything is starting to add up.

Anyway, I am moving to Portugal regardless. But it surely wouldn't hurt if it turns out to be a tax haven for forex traders 😎

Surely someone in this awesome community must know about this.

Thank you for reading the post.

May God bless
You can make a million excuses or a million dollars... But you can't make both!
Member Since Mar 18, 2019   98 posts
Aug 30, 2020 at 11:42
MikulovicFX posted:
Hello folks

I am wondering if by any chance there is someone who could clarify for me whether it's true or not. I discovered that in Portugal there is no capital tax gains when it come's to currencies, including cryptocurrency such as bitcoin.

I made up my mind a while ago that I am moving to Portugal, namely Algarve - without thinking about tax benefits. Now that I've looked into it, it seems that everything is starting to add up.

Anyway, I am moving to Portugal regardless. But it surely wouldn't hurt if it turns out to be a tax haven for forex traders 😎

Surely someone in this awesome community must know about this.

Thank you for reading the post.

May God bless

tbhi dont think so, definitely not heard of that before for portugal
Member Since Oct 05, 2020   9 posts
Oct 05, 2020 at 11:03
Realy. Portugal is one of the most friendly countries in the world for trading and crypto.

No capital tax gains.

Problem is COVID because needs of increase taxes is too high for goverment, and nobody knows what will happen in next future.

Also, good place to live. Good climate, good food, and low cost live spends. Realy a good option to move to.
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Member Since Jun 09, 2020   36 posts
Oct 09, 2020 at 11:01
If it is about taxes, you should always get in touch with your CPA and not search for them on the internet if you want clear information.
Member Since Jul 15, 2020   36 posts
Oct 14, 2020 at 11:25
You should check with your CPA.
Member Since Jul 09, 2020   39 posts
Oct 15, 2020 at 05:22
It is true that Portugal is a very good country when it comes to trading. It is very popular among the residents of Portugal and the Forex brokers don’t necessarily have to be authorized.
Member Since Oct 09, 2020   28 posts
Nov 09, 2020 at 11:57
If you are looking for taxes, I suppose it will be better if you get in touch with your CPA.
Member Since Oct 19, 2020   28 posts
Nov 11, 2020 at 05:35
Try to contact your CPA for legitimate information. It is risky to trust unreliable sources for information like this.
Member Since Jan 08, 2021   2 posts
Jan 08, 2021 at 14:43
what is CPA?
Member Since Jan 09, 2021   1 posts
Jan 09, 2021 at 03:52
this is not true. in portugal you just don't pay tax on profits on investments in cryptocurrencies (buying and selling).

Everything that is trading / forex you have to pay 28%
Member Since Jan 08, 2021   2 posts
Jan 09, 2021 at 15:45
@fxpts Thanks for your response. is there any way to reduce it?
Member Since Dec 11, 2020   19 posts
Feb 09, 2021 at 05:26
You should contact the local authorities or some local office for this information. This will give you a correct and trustworthy answer.
Member Since Jul 14, 2021   1 posts
Jul 15, 2021 at 09:07 (edited Jul 15, 2021 at 09:17)
A friend of mine lives in Portugal, and he confirmed this. Cryptocurrency in Portugal is treated the same as any other currency, which means that cryptocurrencies are exempt from paying VAT. Worldwide capital gains and losses are generally included in ordinary taxable income. 13 FX gain or loss should qualify as revenue or cost not benefiting from the specific rules applicable to capital. If you have been interested in this problem, I advise you to go on this site https://www.global-accountant.net/the-trust-fund-recovery-pendy-investigation/. You will find the answers.
Member Since Jul 23, 2021   9 posts
Jul 30, 2021 at 10:58
If I open an account in Portugal can I then avoid tax if I live in Germany?
Member Since Jul 06, 2021   1 posts
Jul 30, 2021 at 18:53 (edited Jul 30, 2021 at 18:54)
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