Taxes
Crypto taxes in Portugal: how gains are taxed
Portugal is no longer a total crypto tax haven — but long-term holders still do well. How the 365-day rule, the 28% rate and the reporting duties work.
18 Sept 20264 min read
Crypto & Portuguese tax
Accounting for crypto investors in Portugal
Portugal is still one of Europe's friendliest countries for long-term crypto holders, but it's no longer a rule-free tax haven. We calculate your gains, file everything correctly and help you plan disposals.
365-day rule
Exchanges & wallets
Annexes G and G1
Since 2023, crypto-assets have their own rules in the Portuguese income tax code. Holdings kept for over a year are generally exempt; shorter holds pay 28%; and trading as a business falls under category B. From 2026, platforms also report your transactions to the tax authority under DAC8. We handle the hard part: transaction history, cost basis, the right annexes and deadlines.
Hundreds of trades across platforms
Binance, Coinbase, Kraken, self-custody wallets, DeFi. We rebuild your history, cost basis and holding period for every disposal — FIFO, platform by platform.
Not sure if you're exempt or owe 28%
The 365-day rule looks simple until swaps, stablecoins and partial sales come in. We check every disposal: what's exempt and what's taxed.
Staking, airdrops and DeFi income
Not everything is a capital gain. We classify rewards and passive income in the right category and the right year, which isn't always when you received it.
Worried about a letter from the tax office
Platforms report your transactions to the tax authority. Filing correctly, including what's exempt, is the best way to avoid questions and fines.
What you should know about crypto tax in Portugal
Under 365 days: 28%
Gains on crypto held for less than a year are taxed at a special 28% rate, with the option to aggregate them with other income, which can pay off for lower earners.
365 days or more: generally exempt
For individuals, gains on crypto held at least 365 days are excluded from tax. They must still be declared (Annex G1), and exceptions apply — e.g. counterparties in jurisdictions without tax information exchange.
Crypto-to-crypto isn't taxed (yet)
Swapping one crypto-asset for another (stablecoins included) isn't taxed at that moment: the acquisition cost carries over to the asset received. Tax comes when you convert to euros or pay for goods and services.
Professional trading and mining: category B
If your activity is business-like, income falls under category B. In the simplified regime, 15% of crypto operations and 95% of mining income are taxable.
Staking and other passive income
Remuneration from crypto operations is investment income (28%). If you receive it in crypto, it's only taxed when you sell, at that point as a capital gain.
Leaving Portugal triggers an exit tax
Ceasing to be a Portuguese tax resident is treated as selling your crypto at market value. If you're planning to move, plan before changing your tax residency.
Services and calculators for your activity
See how we work with you, or run the numbers yourself first.
Reading on crypto and Portuguese tax
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Frequently asked questions
The questions we hear most. Can't find yours? Talk to us.
Is Portugal still a crypto tax haven?
Not for everything, but it remains very favourable: crypto held for 365 days or more is exempt from income tax on the gain, and crypto-to-crypto swaps aren't taxed. Sales within a year pay 28%, and professional activity is taxed like any business.
Do I have to declare exempt crypto gains?
Yes. Exempt gains go in Annex G1 of the IRS return; taxable ones in Annex G. Leaving exempt gains out saves no tax and leaves an unexplained inflow once platforms report to the tax authority.
I bought on several exchanges. How is the gain calculated?
The FIFO rule (first in, first out) applies separately on each platform. We ask for each platform's statements, rebuild your cost basis and calculate disposal by disposal.
I trade often. Am I an individual investor or a business?
It depends on how frequently, how organised and with what intent you trade. The line is factual, not a choice. We review your trading pattern and tell you whether category G or category B applies.
I'm moving to Portugal with crypto. What should I do first?
Gather your full transaction history before you become resident: your original purchase dates and costs are what count for the 365-day rule and the gain. We help you set up records so your first Portuguese return is straightforward.
Can I hold crypto through a company instead?
You can, but company gains pay corporate tax, with no 365-day exemption. It only pays off in specific cases, so we run the numbers with you before you decide.
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