Today it will be about taxes, there is often a topic in which countries in the world we do not have to pay taxes and this is where Portugal comes in. Portugal is a country where we do not have to pay tax on cryptocurrencies and we have a question here why Portugal gives up the income from taxing cryptocurrencies. Namely, there are not so many Portuguese millionaires, so the country gives up only a small income from the taxation of cryptocurrencies, on the other hand, the country opens up to foreign cryptocurrency millionaires who are very eager to visit Portugal because they do not want to pay taxes in their country. These people then buy real estate and spend money in Portugal and thus indirectly pay other taxes.
Therefore, this is a very wise move on the part of the Portuguese government, at the moment the budget for 2022 is being discussed and cryptocurrencies are not even considered. What if you are a trader? If you are a trader, you also don't pay taxes, what would happen if this law changed and whether they could tax your income from previous years, the answer is - no! Because if you had realized in previous years that there was a tax that would lower your income, it is possible that you would have spent the money you would have invested the money in a different way. So it makes sense that you can't tax this income from previous years. Okay but what if all my income comes from cryptocurrencies, investments, trading or stacking cryptos? In Portugal you won't have to pay tax for anything related to cryptocurrencies !The worst thing you could do as a Trader is start a business because having a business in Portugal, regardless of whether you are trading potatoes and carrots or cryptocurrencies, you will still have to pay tax on trading so what you should do is trade only currencies as an individual.