Cryptocurrency trading and payments using digital currencies in Portugal are tax-free, Jornal de Negócios reports citing a source familiar with the matter.
Back in 2017, Governor of Portugal’s Central Bank Hélder Rosalino said cryptocurrency isn’t a currency per se but recognized that it has incredible disruptive potential.
According to Jornal de Negócios, all crypto-related trades will not be subject to value-added tax.
Back in March, iHodl reported that the Canadian Revenue Agency (CRA) was investigating investors who had invested in cryptocurrencies such as bitcoin in order to gather information about their crypto-related activities in recent years.
iHodl also reported that the Inland Revenue Authority of Singapore (IRAS) plans to suspend the application of the Goods and Services Tax (GST) to transactions in which cryptos are used as a means of exchange.
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