Portugal, 2 European Countries Continue to Ride the Crypto Wave
- PTA reminds constituents that BTC capital gains are not taxed in Portugal.
- El Salvador’s GDP sees an increase after making BTC its legal tender.
- Ukraine trades more crypto than fiat as digital assets are now legal.
While the public has yet to see an all-country, global adoption of cryptocurrency, countries that are willing to take risks to reap the benefits of crypto are increasing in numbers. Here are the latest updates on countries backing cryptocurrency.
Portugal: No Tax on BTC Capital Gains
Portuguese Tax Authorities (PTA) clarified that the buying and selling of crypto would not be subject to capital gains tax or value-added tax (VAT).
In a PTA position released in 2016, capital gains from the sale of cryptocurrencies are not taxable under the Personal Income Tax Code, under Category E, which covers dividend and interest income. In addition, crypto sales are also not subject …
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