Portugal plans to levy a tax on cryptocurrency transaction income received by individuals in 2023.
Finance Minister Fernando Medina has proposed a new bill to impose a tax on owners of digital assets. The ordinance will go into effect next year if a majority approves it after deliberation by Republican lawmakers.
Taxes on Crypto Digital Assets
The rule requires citizens to pay 28% income tax if they “hold” a digital asset for less than a year.
The law also provides for the introduction of a tax on mining, the issuance of virtual currency and the trading of digital assets. For example, brokers must give the state 4% of their revenue from maintaining transaction fees. This situation is noteworthy.
Portugal Cryptocurrency Law
This is because facts are known about the change of residence and citizenship of those who have moved to Portugal. This is because of the state’s favorable attitude towards cryptocurrency imports. Best Hardware Wallet.