Portugal Crypto Tax Guide 2024

Portugal has been a cradle for crypto investors ever since Bitcoin blew up and people started making astronomical gains on their investments. This compelled authorities in Portugal to moderate the space with taxes. Portugal has often been referred to as El Dorado for such investors.

Up until now.

In October 2022, the OECD published its final guidance on the Crypto-Asset Reporting Framework and Amendments to the Common Reporting Standard set forth to announce compliance with the international crypto transparency standards. The Portuguese State Budget for 2023 modified the definition of crypto assets to accommodate crypto taxation and eliminate the existing tax loopholes that prevented crypto taxation.