Tax guy 🇵🇹

Crypto bookkeeping & Tax Consulting in 🇵🇹| Helping traders to save on IRS | ❌Not offering legal or financial advice *featured on @coinbureau, @KoinlyOfficial

[Tax guy 🇵🇹 @cryptaxpt]

🌟 Portugal just won “Economy of the Year 2025” according to The Economist! 🇵🇹

For the first time ever, Portugal tops the magazine’s annual ranking of the 36 largest advanced economies, overtaking last year’s winner (Spain) and leaving powerhouses like the US, Germany or Japan far behind.

What made the difference?
✅ Stronger-than-expected GDP growth (projected 1.9–2.3 %, well above the eurozone average)
✅ One of the lowest inflation rates in Europe
✅ A soaring stock market (PSI-20 among the best performers globally in 2025)
✅ Record tourism numbers and foreign investment
✅ Attractive tax regimes pulling in high-net-worth individuals and digital nomads
In the words of The Economist: “Portugal combined solid growth with tame prices and a buoyant stock market better than any other rich country.”

From the country that was bailed out little more than a decade ago to the best-performing advanced economy of 2025!
🎉

[Tax guy 🇵🇹 @cryptaxpt]

@ndee59 @dwjorgeb I gave it a good brush before the rain started 😂

[Tax guy 🇵🇹 @cryptaxpt]

I’m not against Binance.

I’m into making sure my clients don’t pay 35% taxes, instead of 0.

Binance has shown no progress on its Mica license. They applied through Greece, who has never given out a license.

Lots of bad decisions and no progress.

It’s a simple as that. I personally, never had a bad experience with Binance.

[Tax guy 🇵🇹 @cryptaxpt]

🚨Binance has to shut down EU accounts by December 31st.

We don't know the exact fallout for funds left on the platform, so don't wait to find out—move your assets now.

Also note that because Binance is exiting Europe and operating out of a tax haven, your long- and short-term crypto gains could face a 35% tax rate.

[Tax guy 🇵🇹 @cryptaxpt]

🚨Did you know Binance lost its license to operate in the EU this past July?

Even though this happened a few months ago, a lot of people still aren't aware of it. So, what does this actually mean for you?

If you are a Portuguese resident and Binance is still providing you with services, they are operating illegally in the EU, however, it is not illegal for you as an individual to use their platform.

⚠️BUT here’s the major catch:
Because Binance no longer operates under EU licensing, your account and trades may now be processed through an entity based in a blacklisted tax haven.

Under Portuguese tax law, capital gains derived from jurisdictions on Portugal's tax haven "blacklist" face a flat 35% tax rate. This completely wipes out the usual 0% tax exemption you get for holding crypto for longer than 365 days.

That is a massive difference in your profits. To protect yourself from a surprise tax penalty, consider executing your trades and sales through a MiCA-compliant exchange authorized within the EU.

What exchange can you use?
Kraken, Kucoin, Bybit, Nexo, OKX, BItvavo, Bitpanda, https://t.co/DSFwsKXN2R and many more.

[Tax guy 🇵🇹 @cryptaxpt]

@try_CtrlAltDel Not sure if that strategy works on the long term😂

[Tax guy 🇵🇹 @cryptaxpt]

@cardano4life Absolutely! Thats what’s recommended.

[Tax guy 🇵🇹 @cryptaxpt]

@try_CtrlAltDel Exactly. No taxes on gains. No compensation on losses.

[Tax guy 🇵🇹 @cryptaxpt]

@try_CtrlAltDel Better sooner than later!!

[Tax guy 🇵🇹 @cryptaxpt]

@try_CtrlAltDel If the crypto is held less than 365-days, yes!

[Tax guy 🇵🇹 @cryptaxpt]

@jpfgarcia84 I think it’s the opposite.

Nobody is interested in crypto.

Now is the time to buy.

[Tax guy 🇵🇹 @cryptaxpt]

@SunSeekkker Só até 31-12-2026.

[Tax guy 🇵🇹 @cryptaxpt]

@try_CtrlAltDel Most likely yes as they operate from a tax heaven.

[Tax guy 🇵🇹 @cryptaxpt]

@Miguelc084 Sim IRS sim, IRC não.

[Tax guy 🇵🇹 @cryptaxpt]

⚡️What Triggers a Taxable Event for Crypto Capital Gains in Portugal?💰🇵🇹

A taxable event refers to an action that must be reported to authorities, which is not the same as owing taxes. Losses and crypto capital gains that are held longer than 365-days have to be reported but in most cases won´t be taxed.

In Portugal, there are 3 main scenarios that trigger a taxable event for crypto capital gains:

1⃣Selling Crypto for Fiat Currency
This is the most common scenario. If you bought cryptocurrency in the past and later sell it for fiat currency (e.g., euros, dollars or any other), it’s a taxable event.

- Held for less than 365 days: Profits are taxed at 28%.
- Held for more than 365 days: Profits are tax-free.

2⃣Using a Crypto Debit Card
Using a crypto debit card triggers a taxable event differently from a crypto credit card. When you use a debit card, the card provider sells your crypto on your behalf to pay for the transaction. You’re responsible for reporting and paying any capital gains on those sales.

💳With a credit card, the taxable event happens when you repay the credit using crypto, not at the time of purchase.

3⃣Buying Goods or Services with Crypto
When you use crypto directly to purchase goods or services, it’s treated like selling your crypto.

For example, if you use BTC to make a down payment on a Lamborghini, it’s taxed as though you sold your BTC for euros to buy the car. This transaction must be reported to the Portuguese authorities.

📩If you have any questions, feel free to drop them in the comments below, and I’ll do my best to help!

[Tax guy 🇵🇹 @cryptaxpt]

@_A_M_P_C_ Will it though?

[Tax guy 🇵🇹 @cryptaxpt]

🇵🇹 Portugal joined the hype of GTA 6

I don’t think I ever saw this type of banner commercials in Portugal featuring a video game.

[Tax guy 🇵🇹 @cryptaxpt]

@CarryOldman I guess enough people have PS5 to do a marketing campaign like this.

[Tax guy 🇵🇹 @cryptaxpt]

@WatcherGuru @CryptoLisboa Why not mentioning the bank by its name? They deserve the free marketing 👏🏻

[Watcher.Guru @WatcherGuru]

JUST IN: 🇩🇪 Germany's largest bank Deutsche Bank officially rolls out crypto custody services.

[Tax guy 🇵🇹 @cryptaxpt]

@seladadefruta Obrigado Charles! 🙏

[Tax guy 🇵🇹 @cryptaxpt]

@MarioNawfal Apart from the claustrophobic entrance, destroying stuff seems like a pretty nice job.