June's AI-picked stock updates now live. See what's new in Tech Titans, up 28.5% year to date.Unlock Stocks

Portugal, 2 European Countries Continue to Ride the Crypto Wave

Published 02/21/2022, 05:40 AM
Updated 02/21/2022, 06:00 AM
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 ...

Continue reading on CoinQuora

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.