Portugal
Region: europelegal
Portugal was known as a crypto tax haven until 2023 — it did not tax personal crypto gains for several years. In 2023, Portugal introduced a 28% capital gains tax on short-term crypto holdings (held less than 1 year). The Banco de Portugal and CMVM oversee crypto regulations. MiCA applies from 2024.
Regulatory Framework
Trading & ownership
Legal. VASPs must register with Banco de Portugal.
Payments & Commerce
Permitted.
Mining Operations
Legal. Mining income taxed as business income.
Exchange Licensing & AML/KYC
Mandatory Banco de Portugal VASP registration. KYC: Mandatory KYC under Portuguese AML Law (Lei n.o 83/2017).. AML: Full AML compliance required.
Taxation
Capital Gains Tax
28% capital gains tax on crypto held less than 1 year. Crypto held more than 1 year: tax-free. Introduced in 2023 State Budget.
Income Tax (Staking/Mining)
Mining and staking income taxed as Category B income.
VAT & Sales Tax
VAT-exempt for crypto exchanges.