12-27-2022, 02:20 PM
Portugal is planning on ending taxless crypto
<!-- SC_OFF --><div class="md"><p>My country that's attracting hundreds if not thousands of tech and crypto enthusiasts is ending it's status as a crypto safe haven. </p> <p>They plan to start a 28% tax on profit which is the same for stocks and in my opinion extremely high.</p> <p>The government is constantly looking for new sources of revenue to finance it's social programs and failing health system. But in the process it's about to stagnate the real estate market and ending it's status as a hub of technology.</p> <p>Many people who changed residence to portugal to enjoy the tax free crypto status will leave after this and with them lots of investment that would be into crypto and new startups.</p> <p>Not only 28% is super high but the burocracy to report it will be a pain in the ass and worst of all and completely out of touch with the technology itself they want to centralize crypto with one bank (Bison Bank).</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/BlazingJava"> /u/BlazingJava </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zvwqw5/portugal_is_planning_on_ending_taxless_crypto/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zvwqw5/portugal_is_planning_on_ending_taxless_crypto/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>My country that's attracting hundreds if not thousands of tech and crypto enthusiasts is ending it's status as a crypto safe haven. </p> <p>They plan to start a 28% tax on profit which is the same for stocks and in my opinion extremely high.</p> <p>The government is constantly looking for new sources of revenue to finance it's social programs and failing health system. But in the process it's about to stagnate the real estate market and ending it's status as a hub of technology.</p> <p>Many people who changed residence to portugal to enjoy the tax free crypto status will leave after this and with them lots of investment that would be into crypto and new startups.</p> <p>Not only 28% is super high but the burocracy to report it will be a pain in the ass and worst of all and completely out of touch with the technology itself they want to centralize crypto with one bank (Bison Bank).</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/BlazingJava"> /u/BlazingJava </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zvwqw5/portugal_is_planning_on_ending_taxless_crypto/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zvwqw5/portugal_is_planning_on_ending_taxless_crypto/">[comments]</a></span>