According to a report by Expreso, the legal “void” on the collection of capital gains in the investment of cryptocurrencies, has made Portugal a haven for crypto invetors. “There are really a lot of people living here or thinking about coming here”, says Pedro Borges, co-founder of Criptoloja, to the newspaper.
In addition to Portugal, both Germany and Luxembourg also have attractive regimes, given the IRS exemption on these investments, as long as they do not show a speculative profile, according to the PwC survey.
Are they that stupid?
Do they not realise they will be entering a lobster pot?
They will come here invest here and then end up getting taxed here.
The Portuguese government will 100% change the rules.
By James from Algarve on 06 Mar 2022, 09:25
Why would they change the rules? they literally have millions of euros flowing in to the country as a result of not taxing it, millions that will be spent in shops, restaurants, on cars, properties (which are taxed). They are benefiting FAR more from not taxing it and bringing this new industry to the country (which is also going to create jobs) than attempting to tax it and having all the money flow straight back out again.
By John from Lisbon on 06 Mar 2022, 10:41
How naive people are.
I would suggest it is beaurocracy not generosity that has created this soon to be filled loophole.
Portugal is a socialist country,that means the government like to spend other peoples money.
But please go ahead bring all your money here.
Don't say you weren't warned.
By James from Algarve on 06 Mar 2022, 16:47
OK, John. Please give examples of anytime in the last 100yrs or so where trickle down economics have actually worked!
By Stuart W. from Algarve on 06 Mar 2022, 18:38
I did invest a lot in a S A company, and 1 year later even S A s where taxable
By M B from Algarve on 07 Mar 2022, 07:27
Folks with cash have been coming to Portugal for awhile...Has things changed for the local Population...I think not...Portugal was broke before covid...Yet you want to bring in refugees and offer them jobs that don't exist...You screw your own people...Crypto will not change anything...The world has an Values issue...and it ain't the bottom 99%
By Sakamoto Saurez from Lisbon on 07 Mar 2022, 08:30
Now that Russian war criminals and oligarchs dump part of their assets to cryptos it's quite clear such a system should not be maintained and is not what what the world needs, so start taxing 50% at least or kill cryptos altogether. We all pay taxes.
By j.j.de la Haye from Other on 08 Mar 2022, 07:08