©Reuters. Portugal prepares a tax regime for cryptocurrencies
Lisbon, May 19 (.).- Portugal is going to prepare a tax regime for cryptocurrencies that ends the legal vacuum that currently exists, which will be “fair” but without losing international competitiveness to attract this type of investment.
“The Government’s intention is to legislate on the matter. We will not maintain a situation of vacuum on taxation,” Finance Minister Fernando Medina assured today in a meeting with foreign correspondents in Lisbon.
Medina explained that the new regime will take into account a “question of justice, to be done in equivalent and proportional terms,” but will also maintain “a concern for international competitiveness.”
“Portugal will adopt a regime that is effective and fair and that is within the best practices from the international point of view and the country’s competitive position,” he insisted.
At the moment there are no set deadlines to present the measure: “It will be as fast as we can get it,” said the minister.
From Finance they are analyzing the experience in other countries to prepare their proposal, but “it is a relatively new area, with few years of experience and results,” Medina recalled.
Portugal is one of the few European countries where cryptocurrency transactions are not taxed, unlike others like Spain or France.
The Portuguese country has attracted international interest in this type of investment and has been the first in Europe to register a home sale transaction with bitcoins.