The Portuguese Ministry of Finance proposed to tax income from the growth of cryptocurrencies In the draft budget for 2023, the measure is being considered for crypto-assets held for less than a year


Portugal's Ministry of Finance has proposed a capital gains tax on income from cryptocurrency assets held for less than a year. According to the country's draft budget for 2023, such income is proposed to be taxed at a rate of 28%. The document was presented to Parliament in Portugal on Monday, October 10. At the same time, income generated from crypto-assets held for a year or more would still not be taxed.

The draft notes that there is a need for a broad and adequate tax base applicable to crypto-assets with respect to income and property taxation. At the moment, in Portugal, only transactions with digital currencies are taxed by financial companies and investment funds.

The document states that inheritance provides for free transfer of crypto-assets, while commissions charged in intermediary transactions with digital assets are proposed to be taxed at a rate of 4%.

In Russia, in June, the State Duma passed a law establishing the specifics of taxation of transactions with digital financial assets (DFAs).
The document fixed the rates of tax on profit of organizations and tax on income of individuals, and also taxation of operations on realization of CFA with value added tax.

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