The Portuguese government decided to create taxes for the enormous profits of energy producers, as well as capital gains from investments in cryptocurrencies, Finance Minister Fernando Medina announced at the presentation of the draft budget for 2023.
After the agreement reached in the European Union to revert part of the enormous benefits of energy producers to households and companies confronted with the sharp increase in bills, Portugal will demand a “temporary solidarity contribution” next year.
It will be at least 33% on “windfall profits” from the crude oil, natural gas, coal and refining sectors.
The Finance Minister also confirmed his intention to fill the legal loophole that prevented the taxation of virtual assets in Portugal, which had made the country very attractive to cryptocurrency investors.
The capital gains realized in the sector will now be imposed with 28%, Medina specified on Monday.
Until now, Portugal was one of the few countries in Europe where cryptocurrency transactions did not pay taxes, since they were not considered as currencies or financial assets.
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