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#Portugal 🇵🇹 has changed its #tax policy for #Bitcoin enthusiasts and it is not good news 😢. The country used to be a tax-friendly jurisdiction for crypto investors, but now it is imposing capital gains tax and even an exit tax on them 😱. This means that if someone wants to leave Portugal and move their crypto assets to another country, they will have to pay a hefty tax on them 💸. This has discouraged many people from investing in Portugal's economy and some have decided to pack their bags and leave 🛫. One of them said: "I'm deleting the Idealista app from my phone because I don't want to put any more money into this country. I'm leaving, goodbye bitches!" 😡 #taxationistheft

https://video.nostr.build/73b563f59d483d7cb8db5cf2f21d3d786d48c58c5dde8027c1afc51f6a5b24eb.mp4#m=video%2Fmp4&dim=544x1200&alt=Bye+Portugal%21+I%27m+out%21+&blurhash=%5BCC%24%7D%5BIUIps94TNxxtnj%7EXS%7ERPbb9FWUWZkDkqxZWBWXR%25xZoeV%40IoV%40oJbGyDWFaKfk9YafX9WE&x=c51e3fb84f5f09d46fd0d7328a98de93c45c95b4f5ba124ffd2ad12c42b388cc

nobody 1y ago

I call total bullshit on this. One year hold rule is still in place.

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Discussion

nobody 1y ago

Although you might be right on the exit tax!

Martijn Wismeijer 1y ago

Source: https://mcs.pt/crypto-taxation-in-portugal-a-comprehensive-guide-for-2023/#:~:text=Exit%20Tax%3A%20If%20an%20individual,imposed%20on%20all%20crypto%20assets

nobody 1y ago

This isn't really useful information though as there are numerous legal ways to walk around this tax. It's been written in a way to explicitly allow for this. At the end of the day Portugal wants to walk and chew gum here - simultaneously appeasing EU while remaining attractive to foreign investment. The legislation is written as such.