September 2, 2019 by Victor
The platforms of crypto-trading and the payments of wages via digital assets will no longer be subject to any type of tax in Portugal.
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The crypto-currencies will not be subject to any type of tax
The Portuguese tax authorities have clarified the salient points of this decision in an official document that was published to the attention of a society of crypto-mining local.
In the document, it is mentioned that, in addition to the exemptions from value added tax (VAT), crypto-currencies will also be relieved of taxes on income.
This decision is the implementation of the measures taken previously by the Portuguese tax authorities. In 2016, the agency would have already published a document in which are listed the requirements for these tax exemptions, income from crypto-currencies.
A decision consistent with the opinion of the Court of justice of the european Communities
In this official statement, the Portuguese tax authorities have cited a judgment of the 2015 of the Court of justice of the european Communities referring to the same provisions of the regime for the taxation of crypto-currencies.
In effect, the decision is made by the treatment of the case of the crypto-platform Swedish Bitcoin.se and its moderator David Hedqvist.
The european court would have stated that crypto-currencies are viewed as a means of payment. For this reason, they should be relieved of VAT obligations. However, the agency Swedish tax has challenged the verdict, arguing that the case is covered misunderstandings.
Anyway, these recent events show that Portugal has begun to gradually integrate the crypto-assets in its monetary system.
What do you think of the recent decision of the tax authority in portugal ? Let us know your thoughts in the comment section below.
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