Whilst disposals of Bitcoin in Portugal ARE tax free if you are a tax resident and you haven't transacted for one year (FIFO), this is only true if:
- You sell for actual fiat, eg on an exchange
- You provide all the TX data (using a tool such as Koinly) and REPORT it
If you ever stop being a tax resident in Portugal, unsold bitcoin is considered a "deemed disposal" and 28% of your BTC is due to the tax-man.
What's that you say? You pulled it out of the exchange and into a cold wallet? This info is shared, remember.. And the burden of proof (ie, where it went and how it went) is on you. Boating accidents aren't helpful, any more than setting fire to your fiat salary would be.
There are some workarounds (eg, gifting). If others have insights, do share.
And…
All this if you have declared them, and they are on an Exchange under MiCA regulation. And…
There are a couple of special tax regimes for foreigners in Portugal. The NHR in his new model after last year changes includes the exception to taxes over capital gains, that is an improvement over the previous model.
Countries with Exit tax in the EU, are many, and they are switching rules not recognizing former conditions, meaning retroactivity
Run Forrest, run 🏃
As nationals have worst tax rates than the special regimes for foreigners, regulations are being changed in short notice. If you are planning to move, be careful.
I'm trying to understand....please help
now what?
Why not just Robosats or any other darknet P2P site/app?
https://imgprxy.stacker.news/nfaVKjXoGuRn0OCgkEgrLTNYadlZia50zu_ufsGxQ1U/rs:fit:2560:1440/aHR0cHM6Ly9pbWFnZS5ub3N0ci5idWlsZC85YmRmNDBiZTk4NWUzNzJiNDJiZTYxMzlkYWJlYjZkMzNmNjZiM2NmMTY2MTA2ODliMDg0NTc3MjQ2MTczNDZhLmpwZw
No one has their Bitcoin. Some people have their keys.
In Portugal, donations (gifting?) are taxed. I believe is 10%.
Travel Rule
10% is still lower than 28% tho
0% if gifted to spouse or kids, or if it is under 500 eur
I didn't know about spouse or child. Are you sure?
So if he gifts to his wife, he dodges the tax. Lmao
yes, and so does she so long as she has the right tax jurisdiction
still needs to be reported though
And gullible losers are just going to declare it LOL
wHo wilL pAy for The rOadS ????
Bitcoiners do not need roads LOL
https://jetson.com/
Bitcoin not accepted though?
You could probably use the concierge service of ShopInBit to purchase one
No, middleman is not really a solution... id rather swap some sats back to fiat via P2P and purchase it directly
Shopinbit is an excellent service that help you not going back to fiat. They are doing all the shopping for you.
THIS
yeah sad...
Have you tried? I thought this was still an experiment, I have heard and seen footages of a drone pilot I think 2 years ago going from Germany to Australia to do just that. In countries like India or Cambodia, I wouldn't need to escape holes in the ground anymore.
wHo wiLl pAy to moNiToR poLitiCiAns to aCtuaLly bUild the roAds and nOt bUy sWimMinG pOolS fOr thEmsElves ????
What do you mean by this?
he wants to give you his sats 😂😂😂
All these years actual Bitcoiners (NOT fiat speculators) have been explicitly informing everyone to avoid kYC - there is no excuse for anyone who fails to listen, think, and learn - so many have chosen badly, and will suffer at the hands of whichever state they foolishly complied with... maybe only harsh experience and significant cost will teach them ?
Buying non-KYC is only really do-able for small amounts
Contact John J. Singleton for ideas. He thinks out of the box.
https://www.aceofcoins.com/
https://t.me/aceofcoins
How does the Government know about the unsold bitcoin?
Fuck the travel rule and fuck regulations. Needed to be said
Could you share the source about this topic?
Paid legal opinion
The exemption applies to INCOME (category E). If you don't sell (for dirty fiat), there's no income, but there IS an exit tax if you are hodling the day you stop being a tax resident.
I expect crypto taxation to change/evolve a lot in the coming years considering how the public thinking is changing around some assets, so hopefully this won't be a "problem" forever
Hopefully it will get better, not worse.
As the value of fiat drops, the amount of KYC BTC lost to tax increases proportionately.
The nominal amount of local currency increases.
So if it is kyc'd, you have to convert it all to fiat; leave; then convert back?
yes, exactly - back to exchange for a full liquidation