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Portuguese Parliament Rejects Proposal to Tax Bitcoin and Cryptocurrencies

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The Portuguese delegates debated the State Budget for 2022.

To date, various proposals have been rejected, taxing cryptocurrencies is one of those suggestions. 

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The proposal to tax cryptocurrencies is as follows:

“In 2022, the Government establishes a tax declaration obligation on crypto assets to tax income from a minimum threshold of 5000 euros.”

According to the economic newspaper ECO, these proposals are from leftist parties Left Block , and Regular, but both are rejected.

However, the crypto-tax-free Portugal days may coming to an end. Earlier this month, Portugal's finance minister announced his commitment to begin taxing cryptocurrencies.

Portugal, one of the countries friendly With Europe's largest cryptocurrency, digital asset trading is not considered investment income in this European country.

Because of the friendliness of the authorities, Portugal is an attractive country for crypto startups.

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