Portugal to Tax Cryptocurrency Income According to Minister of Finance

Portugal, one of the countries considered a crypto haven in the absence of a tax on the subject, is working to enact legislation that would allow these digital assets to be taxed. Finance Minister Fernando Medina made the statement while discussing the state budget.

The government has already indicated its future direction on cryptocurrency taxation. The Ministry of Finance asked the Portuguese tax authorities to study how cryptocurrency was taxed in other regions in 2021 to propose an adequate tax structure for these new instruments, taking into account the necessary balance between income and equitable distribution of assets. Attraction of foreign investment.