Portugal About to Introduce Crypto Tax?

Portugal was one of the safe havens for people who made lots of money in crypto because you could get away with paying no taxes at all!
Was this too good to be true? Was it accidental? Something that will end in just a matter of time?

Tax loopholes are very rare, and they often close after some time - unfortunately, this is what's happening with Portugal taxing crypto.

There are strong indicators that Portugal will introduce crypto taxation in the near future.

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Author: Michael Rosmer

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[jonnyreh]

when? Do we have any info on timeframe? Not this year ... right?

[ajdrums]

Hmmm I was going to buy in Portugal next year now I won't. I left Australia and moved to Turkey who have no crypto regulations on a long term tourist visa (no crypto tax as on a tourist visa any way) to avoid crypto tax and secured a year rental to pass Australian resides test along with sending my kids to school etc to pass more of the bs requirements my government requires to prove you are no longer a tax resident. Any more tips for AU? I kept an AU bank account as I don't trust Turkey's so much. We sold all our properties before we left etc but I'm concerned our strict ATO will still get me on something???

[hellophoenix]

Michael, I love your videos, you are always current with issues related to expats. I’ve just moved to Dubai and I’d love to see a video about their medical services

[eddyc]

its sad i rly just decided to move there . i mean if the taxes arent too high . i might still move . with the d7

[rivers]

That's unfortunate, but all good things must come to an end.
We're headed there in just about six weeks for an exploratory trip as we are considering retiring there in the a few years. Hopefully the tax implications are still attractive enough to make that move.

[Albert.]

Is crypto still untaxed in Georgia? The country not the state.

[Carey]

Can u make a video about non Dom in Ireland ??

[azizsiddique]

If you are NHR in Portugal, you still need to worry about it ?

[NON-]

I would not expect even the air to remain untaxed very soon 😉

[stephandaley]

Great video Michael, maybe a video on 0% capital gains in Jamaica. They may also introduce a CBI program. Lots of ppl also have citizenship by descent for Jamaica and it takes 3 months and inside of $300 for all the filings.

[mohamedashoor]

Hello
Thanks for the information
And what will be the percentage of the tax on crypto or until now no body now ?

[brezl]

Do you see potential tax changes eventually being introduced in UAE as well?
Simple, flat 10% in Bulgaria seems quite attractive as of right now.

[peaceonearth]

I heard that if you want a larger apartment in Denmark, then you have to apply to the government and justify to them why you need it. Before a person or a couple would be allowed to rent it. True or false?

[SelectaZero]

When will this new tax become effective? Do you believe it will be applicable this current tax year - 2022?

[tinglestingles]

So... Sarawak MM2H might be on the cards after all!!! The trouble is... we really love it in Portugal. I hope the Portuguese IRS take many years to institute as they do for everything else! I'm not happy, I have to tell my wife! I'm assuming the value when calculating capital gains, at date of entering the PT tax system and not the initial purchase price? Perhaps a low rate for NHR and 28% for everyone else?

[lonkow]

Can you provide a source? As I can't find any information on the Internet about this

[jstncheney]

I have been looking forward to moving here for the past 5 years for this particular reason. And Unfortunately, our decisions may change and we may have to look elsewhere, depending on the outcome of this new tax.

[difference]

Portugal would be stupid to do this after Germany just announced that crypto was tax free after a year.

[flyheli]

Isn't there a tax code change only every 4 years... according to this it should be valid for another year or two.... I'm hoping :)

[fabriziogastaldo]

The poor countries remain poor, with a poor mindset...