In Portugal Cryptocurrency Transactions Will not be Subject to VAT

Portugal Tax Service has clarified the cryptocurrency status and informed that cryptocurrency trading and payments in Bitcoin aren`t subject to value added tax (VAT) – bitcoin doubler 2x has learned.

In Portugal Cryptocurrency Transactions Will not be Subject to VAT - invest with bitcoin doubler 2x
In Portugal Cryptocurrency Transactions Will not be Subject to VAT – invest with bitcoindoubler2x.com

Portuguese tax and customs clarified the cryptocurrency status for a local mining company. According to the official document, exchange fiat money to cryptocurrency isn`t subject to VAT. What is more, users aren`t to pay Income tax on crypto asset trading.

Portuguese tax service in its statement refers to the European Court judgment of 2015, according to which Bitcoin is recognized as a means of payment and, respectively, it can`t be subject to VAT.

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