Crypto trading, payments, and mining companies are tax-free in Portugal
Crypto trading, payments, and mining companies are tax-free in Portugal
Happiness for the decentralized blockchain world industry and for Portugal, as the best door for the European economical space and great to establish blockchain communities and companies.
The best-regulated market for blockchain business for a friendly environment for investment and users including Steem owners.
No anxiety about being taxed in the future.
Crypto in Portugal is regulated with total deregulation for mining companies and crypto transactions and payments.
Cryptocurrency trading and payments in Portugal are tax-free, the European country’s tax authority published a clean vison in a legal document. about deregulation of the crypto market and industry as an example to be followed by the rest of the world.
The newspaper Jornal de Negócios (in Portuguese) published an article from the central financial authority declaring that cryptocurrency trading in real currencies and remuneration are exempt from value-added tax (VAT).
No income tax or VAT at all on cryptocurrency activities in the Portuguese market.
For now, Blockchain paradise is in Portugal.
Cheers
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Proud Portuguese here. I'm actually surprised that my country is evolving so fast in terms of tech, we weren't doing very well when the dotcom bubble started and in 2008 the country took a bad hit, if we do crypto right, which it seems we are, this would bring major business, tech and money into Portugal. I got my fingers crossed! We have an amazing country prime for investing and business, we are like the hawaii of Europe!
Thanks for the comment and reading your post. :)
I didn't check if it was on Steemit. :)
I'm astonished that Portugal has taken this giant step of market deregulation, the most audacious in all the world.
I'm very happy because for nine years I've been a decentralization enthusiast, and our country had no potential to compete in this new business area, and only a few are in the movement.
Surely this will bring investors, know-how, economic growth and a fiscal paradise for crypto and blockchain communities.
Vai ser fixe para nós. hehe
Força aí, que agora vai haver espaço cá na Tugaland para o blockchain. Finalmente.. Estávamos a perder a corrida. :)
Txi, so agora é que reparei que tinhas PT no nome ahahah Eu só espero que isto nao seja mais uma das do governo de dizer uma coisa e depois daqui a 1 ou 2 anos mudar tudo e meter impostos que comem a carteira toda... se isso acontecer os estrangeiros que vieram para ca por causa de 0 impostos mudam de pais, e os de ca mudam com eles...
Ainda por cima nos temos por ai um projecto em portugal que e o uma cripto vila, mas acho que com o bear market abrandou imenso
Pois esse é o principal problema no panorama português, as mudanças políticas alteram as regras dos negócios.
Se um ministro das finanças começar a ver muito volume de negócio, a ganância pode destruir todo o sistema.
Mas foi uma super novidade para quem está em projetos blockchain, pois isto corta muitas etapas e custos, pois reduziu a 50 % o tempo e as despesas no blockchain em que trabalho.
Also a proud portuguese!! :D
But with my reserves and doubts...
I afraid this is a similar situation to what happened to the betting sites, they were working under "general" regulation, but when they decided that it could be a profitable market to get lot of taxes they changed the regulation and killed the industry in Portugal for a long while and taking even longer for the comeback to happen (not anytime soon).
Politicians are like snakes(no offense to the animal), they have a bifid tongue when they talk trying to make look true what is a lie.
Thanks for the comment about the normal distrust on Latin made laws, that are reversed at any time giving no trust to the investors and market stability.
If we go right in the next election everything goes down the drain, also with the possibility of the next finance minister being left is not a guarantee that this law will stand.
When governments make new economical rules, they should state for how long the law will stay, to create a stable market.
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