Portugal’s
Tax Authority Confirms Tax-Free Cryptocurrency Trading and Payments
Portugal’s tax and customs
authority confirmed that both cryptocurrency trading and payments are exempt
from value-added tax (VAT), according to an August 26 report from Portuguese
business newspaper Jornal de Negócios.
The clarification was
reportedly made to a Portugal-headquartered cryptocurrency mining company. In
a document shared with said company, the tax authority also confirmed that
Portuguese are not required to pay income tax on cryptocurrency-denominated
earnings.
