Yugocean
Valued Contributor
During the 2022 budget, the Portuguese parliament on Wednesday afternoon rejected two separate tax bills from two left parties Bloco de Escarda and the Livre Party to tax crypto asset. voting session. This has brought relief to the crypto traders of the country.
The country's ruling Socialist Party government has not yet imposed any taxes on cryptocurrencies, which is why Portugal is considered a cryptocurrency tax haven. Yet like in other countries, many politicians are pushing for a crypto tax in Portugal.
A report published this month by the Bank of Spain claimed that Portugal's firmness on cryptocurrencies is less than Italy's. This seems to imply that even tax exemptions have not been able to increase cryptocurrencies there.
Portugal's Finance Minister Fernando Medina recently announced a regulatory framework for taxing cryptocurrencies, but he did not specify a time frame.
As other countries are taxing crypto the possibility of Portugal taxing cryptocurrencies in the near future is not ruledout.
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The country's ruling Socialist Party government has not yet imposed any taxes on cryptocurrencies, which is why Portugal is considered a cryptocurrency tax haven. Yet like in other countries, many politicians are pushing for a crypto tax in Portugal.
A report published this month by the Bank of Spain claimed that Portugal's firmness on cryptocurrencies is less than Italy's. This seems to imply that even tax exemptions have not been able to increase cryptocurrencies there.
Portugal's Finance Minister Fernando Medina recently announced a regulatory framework for taxing cryptocurrencies, but he did not specify a time frame.
As other countries are taxing crypto the possibility of Portugal taxing cryptocurrencies in the near future is not ruledout.
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