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It was recently announced by the State Budget proposal for 2023 that starting next year, cryptocurrencies will be taxed.

But let’s take a step back: this is still a mere proposal! It will have to be discussed and approved at the Portuguese Parliament. 

If approved, cryptocurrency gains will be taxed as Category B. This means that when filling in the IRS declaration with the Tax Authority – whose delivery campaign usually starts on April 1 – you will have to include the crypto asset sales operations you had in the previous year. You will be subject to an IRS rate of 28%, if you do not opt for the aggregation of capital gains.

At Desk Portugal we will keep you updated for any news regarding this subject. 

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