Over 500 tax payers declare net capital gains of €57 million from crypto in 2023

In 2023, income declared from the purchase and sale of cryptoassets by residents in Portugal stood at around €57 million according to newspaper Expresso today.

The figures reflect the first year since the tax statues were altered to take into account this class of assets, which is taxed as other transferable securities at 28% for those who have held the assets for less than year. (Those who have sold cryptoassets after holding them for more than a year are tax exempt)

Among taxpayers who sold crypto less than 365 days after the purchase, the balance is negative by €9,000 euros. 51 people are in this situation.

Those who only sold assets held for more than a year – a total of 507 taxpayers – had net capital gains of €56.8 million.