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Bitcoin Mining and payments in Portugal are now tax-free

the Bitcoin-Mining income as well as payments in crypto-currencies are exempt in Portugal from VAT. Thus, Portugal, in the regulation of other European countrie

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Bitcoin Mining and payments in Portugal are now tax-free

the Bitcoin-Mining income as well as payments in crypto-currencies are exempt in Portugal from VAT. Thus, Portugal, in the regulation of other European countries.

By Phillip Horch
30. August 2019BTC$9.611,11 1.44%part Facebook Twitter LinkedIn xing mail message from Portugal

Currently makes the message of the round that Bitcoin payments and Trading crypto-currencies in Portugal tax-free. This goes back to the Portuguese magazine, Negocios. There it is:

The tax authorities had already made it clear that income in crypto-currencies is not subject to tax. Now it is clarified that both the activity of the Exchange of crypto-currencies into real currencies, as well as the remuneration paid in crypto-currencies are exempt from VAT.

The report of the magazine in turn goes back to a communication, the tax authority made in Portugal in relation to the Bitcoin control. She was responding to a request of a Bitcoin Mining company. In this communication, the speech, made in Bitcoin and tax free is, in turn, of "payments". In doing so, the income from Mining activities. Ultimately, it is clear from the message so that payments made in Bitcoin will be exempt from VAT. This is not entirely new, however. Because the tax authority in Portugal, in turn refers to a judgement of the European court of justice in the year 2015.

the judgment of The European court of justice to the Bitcoin VAT

In the judgment of the European court of justice it is called:

[The] exchange conventional currencies in units of the virtual currency "Bitcoin" is exempt from VAT.

In addition, the exchange of Bitcoin into Fiat for a service currencies. The fee for the difference between the purchase price and the sale price was.

Bitcoin-tax in Germany

Also in Germany-free income from Bitcoin & co. under certain circumstances, tax. However, the one-year holding period. Who Cryptocurrencies for more than a year hodlt, you must pay as a private individual on the sale of income taxes. The Trades fall under the one-year period, under certain circumstances, taxes will be due. For more on the taxation of private capital gains in Germany can be found here.

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