Clarissa Peereboom

🚨Important Heads-Up for Crypto Investors in Portugal: Watch Out for the "Tax Haven" Trap on Your Trades! 🇵🇹 Many of you moved to Portugal attracted by its relatively favorable crypto environment, especially the potential for 0% capital gains tax on long-term holdings (over 365 days). But there's a nuance that can quietly turn that 0% into 35%. Under Portuguese tax rules, capital gains from crypto assets (Category G) and certain investment income (Category E) are normally taxed at 28% for short-term disposals (or exempt for long-term under specific conditions). However, if the counterparty to the transaction is located in a jurisdiction considered a "tax haven" (paraíso fiscal) according to Portugal's official blacklist, the rate jumps to 35%. The rules for traditional assets (like stocks) already apply this 35% penalty when the counterparty is in a blacklisted jurisdiction and while crypto regulations aren't 100% explicit on mirroring this exactly, the parallel is strong enough that it's prudent to avoid the risk altogether. What counts as the "counterparty"? It can include: 1⃣The country where your exchange's EUR/bank accounts are held 2⃣The location of the exchange's operating office 3⃣The jurisdiction of the exchange's operating license If all of these point to a blacklisted jurisdiction, you're potentially exposing your gains to the higher 35% rate. This is the list of fiscal paradises in Portugal: diariodarepublica.pt/dr/legi… My personal advice? If your current exchange setup falls into this category, consider migrating to a platform licensed/operated in a non-blacklisted jurisdiction (ideally EU/EEA or a DTT/TIEA country) to stay on the safe side and protect those long-term exemptions.

⚠️Be cautious when using @bitvavocom crypto exchange as a Portuguese resident Even though the platform offers a “Convert” feature that appears to let you swap one cryptocurrency directly for another (e.g. Bitcoin to Ethereum), Bitvavo executes these trades by selling the source asset for euros and then buying the target asset with those euros in the background. Example: What you intend: Swap Bitcoin → Ethereum (hoping to keep it as a non-taxable crypto-to-crypto move). What actually happens: Bitcoin is sold for € → Ethereum is bought with those €. This creates a taxable events under Portuguese rules: a disposal of BTC . With the implementation of DAC8 (which increases reporting from exchanges to tax authorities starting 2026), Portuguese tax authorities will receive detailed transaction data from Bitvavo. As a result, these internal fiat conversions may be treated as realised capital gains, potentially triggering 28% tax on short-term gains (assets held less than 365 days). Your intention of simply rebalancing within crypto could therefore lead to an unexpected tax liability....

@Revolut is not allowing any physical crypto cards in Portugal 🇵🇹 This seems to be more of a legal compliance issue. Does anyone have a clue?