Will Portugal start taxing crypto?

Hi,

I've read today, that Portugal might review its stance on crypto taxation. Portugal is the only country in Europe, where crypto is not taxed from an official point of view.

This could mean another big exodus of crypto lovers from Europe. There are countries that have a nice taxation politic, like Panama, where only income generated in the country is taxed. For a digital nomad or a crypto investor, is Panama a tax heaven.

This tax heaven make sense, as it pulls people in, that are willing to spend money, money that was not taxed when it was earned. This money is taxed during spending, but it will get more for the one who is spending it, at the end of the day. Also, a healthy economy has a lot of money in circulation, and by circulation, I don't mean inflation.

Portugal had a big chance with crypto, without taxing it, a flood of money could have been expected into the economy. There are load of people moving into Portugal, for the better weather at least.

Portugal would have had the chance to develop another crypto valley, like Switzerland. Imagine building crypto companies on the beach, motivated that all earned can be kept and spent at will.

I still hope that Portugal will remain to current status. I understand that they try to avoid illicit money coming in, but this can be done with other measures.

How do you see it?

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