During a budget voting session on May 25, the Parliament of Portugal rejected proposals to tax BTC and other cryptos.
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The bills suggested taxing crypto profits in excess of €5,000 (equal to $5,340.45).
Since 2018, Portugal has considered taxing individual crypto sales. Currently, the country doesn't see digital assets as investment income.
Earlier this month, the Minister of Finance, Fernando Medina talked about the need to tax crypto assets. He suggested a 28% capital gains tax.
Although the Parliament didn't approve the bill for now, it's not excluded that other bills will appear and there will be taxation on crypto gains in Portugal.
In a working session in Parliament, Medina said that his vision is based on comparing Portugal to other countries that already have tax systems. Further, he noted it doesn't make sense for an asset that creates capital gains to not be taxed.