Portugal will impose 28% tax on cryptocurrency profits

As early as next year, we could see an exodus of cryptocurrency enthusiasts and just ordinary people who do not want to pay taxes for crypto because now Portugal could become a natural tax haven itself.

In a nearly 450-page report on macroeconomic strategy and fiscal policy, a small section states that the Portuguese government will impose a 28% capital gains tax on cryptocurrency income earned in one year. 

It looks like they wanted to "drown" the section with this innovation in 450 pages of text. The Portuguese government also intends to impose a 4% tax on any transfers of cryptocurrencies and apply stamp duty where applicable. 

Stamp duty is a tax on purchasing investment instruments, including bonds, stocks, and land.

And while this taxation has not been adopted at this point, it was talked about back in the spring by Portugal's Finance Minister, Fernando Medina. So while we wait and see (+1 popcorn).

And while Portugal is enacting the tax, you can get rich off the gems from Alpha Moni Reports. By the way, Goblin Town and Moon Birds were there, too...get in!