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

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

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

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.

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.

You should check with your CPA.

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.

When trading forex, the taxation system has constantly been on my mind. I am not sure if I should contact my CPA for this or not.

If you are looking for taxes, I suppose it will be better if you get in touch with your CPA.

Try to contact your CPA for legitimate information. It is risky to trust unreliable sources for information like this.

Try to contact your CPA as far as your taxes are concerned. This will help you get some clarity.

what is CPA?

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%

@fxpts Thanks for your response. is there any way to reduce it?

You should contact the local authorities or some local office for this information. This will give you a correct and trustworthy answer.

You should check with someone who belongs to that region for some clarity.

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.

If I open an account in Portugal can I then avoid tax if I live in Germany?

Honestly, this is the first time I've heard of this.