Crypto tax in Portugal in 2026

8 min read · Published 6 October 2026

After 365 days of holding - 0%, earlier - 28% on the gain. A coin-to-coin swap defers the tax, and staking is taxed separately. How to calculate, what about mining and when to file.

Item	In 2026
Rate for individuals	28% on the gain if sold before 365 days
Long-term holding relief	365 days or more - 0%
Coin-to-coin swap	tax deferred until sale for money
Staking and interest	28% as capital income
Mining	business income
Tax return	from 1 April to 30 June of the following year
Data exchange	from 2027, data collected from 2026

Data checked 2026-10-06

Portugal was long seen as Europe's crypto haven: until 2023 an individual's gains from selling coins were not taxed at all. Now there are rules, but mild ones. Gains on coins held for 365 days or longer remain exempt, and if sold earlier 28% is paid.

Swapping one coin for another does not trigger tax: the purchase cost and holding period pass to the new coin, and tax is calculated when you cash out into euros. Staking and interest on coin loans are taxed separately as capital income, and mining as business income.

Who pays crypto tax in Portugal

A Portuguese tax resident is someone who spends more than 183 days in the country in any 12 months or has a home here used as a habitual residence. A resident pays tax on worldwide income, including sales of coins on foreign exchanges.

A non-resident pays tax only on Portuguese income. For those who move, the line is the date of residence: in the year of the move Portugal taxes only income received after you became resident.

Citizenship and a residence permit do not determine residence; days and a home do. The special regime for new residents, which used to exempt much foreign income, is closed to new applicants, and its replacement is aimed at scientists and specialists of innovative companies.

Portugal's treaty with Russia has been suspended by Russia since 2023, so the date of the move and the change of residence must be recorded especially carefully. More on the Portugal taxes page.

How to calculate crypto income

Tax is calculated on each sale for money: the sale price minus the purchase price and expenses directly related to the trade. If the coin was held for 365 days or longer, the gain is exempt; if less, it is taxed at 28%.

A resident may aggregate the gain into the general income tax scale instead of the flat 28%. This pays off with a small total income, but then other capital income also enters the scale, so the decision is made with a calculation.

A coin-to-coin swap is deferred: no tax arises, and the cost and holding period of the first coin pass to the second. Paying for goods and services with crypto, by contrast, counts as a sale. The 365-day exemption does not apply if the buyer is resident in a country on Portugal's list of tax havens.

Situation	Calculation	Tax
Bought coins for $10,000, sold after 8 months for $15,000	$5,000 × 28%	$1,400
Sold the same coins after 14 months	exemption after 365 days	$0
Swapped one coin for another with a $3,000 gain	tax deferred until sale for euros	$0
Received $2,000 in euros as interest on a coin loan	28% as capital income	$560
Paid $1,500 in crypto for a trip; the coins were bought 3 months ago for $1,000	payment counts as a sale: $500 × 28%	$140

Amounts in US dollars at the European Central Bank rate of 6 October 2026, tax rounded.

Crypto income in Portugal means a year of holding for every coin and the right annexes in the return

Mistakes are mostly about timing and annexes: a coin sold on day 364 loses the exemption, the purchase date of old coins cannot be proved, staking is reported as a capital gain, or people forget that paying for goods with crypto is also a sale. We track the holding period of each lot, sort trades into the right annexes of the return, assess whether aggregating income on the general scale pays off and prepare a package for the bank.

The cost of support depends on the number of trades and exchanges; a manager will calculate it in the chat.

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Mining and staking

Mining in Portugal is taxed as business income. A private miner registers the activity and pays tax under simplified or full accounting: under simplified accounting a statutory share of revenue is taxed, under full accounting the difference between income and expenses, including electricity and equipment.

Staking rewards and interest on coin loans are taxed as capital income at 28%. If a reward is received in crypto, tax is by law deferred until it is sold, and such a coin has a zero purchase price.

If crypto is paid for your work or services, it is employment or business income on the general scale, not a capital gain. Such receipts are best tracked separately from day one.

Cashing out crypto and moving it to a bank

Crypto can be sold for euros through platforms legally operating in the EU and the money withdrawn to a Portuguese bank account. The withdrawal itself is not taxed; tax is based on the sale.

Portuguese banks check receipts from exchanges under anti-money laundering rules and may ask for trade statements, the exchange agreement and proof of where the first coins came from. Large sums and transfers from platforms outside the EU get particular attention.

The 365-day exemption does not remove the duty to show the sale in the return: exempt and taxable trades go into different annexes.

Crypto account data sharing

Since 1 January 2026 an EU directive on crypto-asset data has applied: platforms collect clients' transaction data, and the first exchange between tax authorities will take place in 2027. The Portuguese tax authority will see residents' sales on platforms across the union and in countries that joined the standard of the Organisation for Economic Co-operation and Development.

For holders this means purchase and sale dates become visible to the tax authority. The one-year exemption will have to be supported by documents, not words.

If sales were not declared in past years, it is safer to correct them yourself before the tax authority sends a request.

Licences for crypto companies in Portugal

Companies that exchange, hold or transfer clients' crypto operate in the EU under a crypto-asset service provider authorisation under the EU regulation on markets in crypto-assets. In Portugal, supervision is carried out by the country's financial regulators.

For an international project without Portuguese clients a licence in another country, such as Estonia or the British Virgin Islands, is often more convenient, while a Portuguese company is set up for related business.

A Portuguese company's profit is subject to corporate tax, and small businesses pay a reduced rate on the first part of profit. More on the company registration in Portugal page.

Murblz sets up crypto companies and licences in these services: crypto licence in Estonia, BVI company with a virtual asset service provider licence, company registration in Portugal.

This topic in other countries

Crypto tax in other countries:

Taxes, relocation and business in this country:

Where crypto is not taxed at all is covered in countries with no crypto tax.

FAQ

What is the crypto tax in Portugal in 2026?

28% on gains from selling coins held for less than 365 days. Gains on coins held for 365 days or longer are exempt.

Is a crypto-to-crypto swap taxed in Portugal?

No, tax is deferred: the purchase cost and holding period pass to the new coin, and tax is calculated on a sale for euros or payment for goods and services.

How is staking taxed in Portugal?

As capital income at 28%. If the reward is received in crypto, tax is deferred until it is sold, and its purchase price is zero.

Do you have to declare a crypto sale after a year of holding?

Yes. Exempt trades are also shown in the return, in a separate annex.

When is the crypto tax return due in Portugal?

From 1 April to 30 June of the following year as part of the annual income tax return.

Is mining taxed in Portugal?

Yes, as business income: the miner registers the activity and pays tax under simplified or full accounting.

Can you pay less than 28% on crypto income in Portugal?

A resident may aggregate the gain into the general income tax scale. With a small total income this is cheaper, but then other capital income enters the scale too.

Will the Portuguese tax authority learn about trades on a foreign exchange?

From 2026 EU platforms collect clients' transaction data, and exchange between tax authorities starts in 2027. Residents' trades will become visible to the tax authority.

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Programs in Portugal

Citizenship by birth Residence Talent visa

Crypto tax in Portugal in 2026

Who pays crypto tax in Portugal

How to calculate crypto income

Mining and staking

Cashing out crypto and moving it to a bank

Crypto account data sharing

Licences for crypto companies in Portugal

This topic in other countries

FAQ

Don’t want to figure this out alone?

Programs in Portugal

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