Portugal Tax Authority: Cryptocurrencies are tax-free
The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles
Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles
Answer Portugal Tax Authority: Cryptocurrencies are tax-free
Portugal’s tax authority has clarified that the trading and use of digital currencies for payments within the country is a tax-exempt process.
Jornal de Negócios reported the news earlier this week and reported that the Portuguese government has declared that trading cryptocurrencies or using them as payments is VAT-exempt.
The report also enclosed an official document stating that there is no income tax on the profits of cryptocurrency trading or mining of cryptocurrency within the country.
It is worth noting that the Portuguese Central Bank has raised concerns about the European Central Bank’s recognition of Bitcoin as a “phenomenon of innovation in cryptocurrency models”, claiming that Bitcoin cannot be considered a safe currency as it has not been issued by a regulated entity.
Read:Bitcoin in Arabic: The story of the Bitcoin price hike since the launch of the digital currency
Read also:
Read:Digital currency XRP rises above $0.5 level as lawsuits against Ripple continue
Japanese government seeks to simplify taxes on digital currencies
Is Bitcoin trading legal? Learn about the legitimacy of electronic currency
A student turns 5 thousand dollars into 800,000 dollars by speculating in cryptocurrencies … and the US government is asking him for taxes
And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time