Crypto tax tool
Portugal crypto tax, in plain English.
PT introduced specific crypto rules in 2023 and they're widely misunderstood. The 365-day exemption is real but narrower than crypto Twitter suggests. This tool walks through the four most common scenarios and tells you honestly what you owe.
What was the activity?
Used to determine your marginal IRS bracket and whether englobamento is cheaper than the flat 28%.
Estimated PT tax owed
€5,600
~28.0% effective rate on the gain
What this means
Flat 28% Cat G is your cheapest option here. Englobamento would cost more (€11892) given your other income.
Estimate only. PT crypto rules introduced in 2023 are still being clarified by AT. Key uncertainty: where the line falls between "individual gains" and "professional trader" - AT can reclassify if you trade frequently. NFTs, foreign exchanges (Coinbase, Binance, Kraken), and DeFi yield each have nuances. For meaningful gains, consult a contabilista who specifically handles crypto before filing.
The four scenarios that matter
1. Long-term hold (365+ days), sold at a gain
0% PT tax. Cat G long-term exemption introduced by OE 2023 (Article 10.º CIRS). Still must report on Anexo G of Modelo 3, but the line item shows €0 owed.
2. Short-term hold (under 365 days), sold at a gain
28% flat Cat G by default. Can opt for englobamento (aggregating with your other income at progressive IRS brackets) - cheaper if your other income is low enough that the marginal bracket falls below 28%.
3. Mining / staking / DeFi yield income
Cat B self-employment. Treated as if you're running a small business. Must register as autónomo at AT, issue recibos verdes (for service-like activities), apply the simplified-regime coefficient (0.95 for mining/staking yield specifically), and pay Social Security after the year-1 exemption.
4. Professional / day trader
AT can reclassify your activity as Cat B if you trade frequently, have dedicated equipment, or substantially earn from trading. The 365-day exemption doesn't apply. This is the murkiest area - if you're trading meaningfully, get a contabilista who specifically handles crypto.
Common crypto-tax mistakes in Portugal
- "NHR exempts my crypto" - NHR exempts most foreign passive income but the rules for crypto-specific gains are nuanced. The 365-day Cat G exemption applies to PT residents under NHR or standard regime alike, so for long-term holds NHR doesn't add anything new.
- "Coinbase / Binance gains don't count" - Foreign exchange gains are reportable in PT if you're a PT resident. AT exchanges information via CRS / DAC8 (effective 2026) with most major jurisdictions.
- "Crypto-to-crypto swaps don't trigger tax" - Wrong in PT. Every disposal (including swaps) is a taxable event for Cat G purposes; you measure gain/loss at the EUR value on swap date.
- "Mining is tax-exempt" - Mining income is Cat B from the first euro. No 365-day exemption applies to staking/mining yield.
- "I'll just not declare it" - From 2026, DAC8 requires EU exchanges to report user balances and transactions to home-country tax authorities. Wallets get reported via CRS. The "they won't know" calculus is changing fast.
When to hire a specialist
The crypto sub-domain of PT tax has more grey areas than most. Get a contabilista who specifically handles crypto if:
- You trade frequently (more than ~50 trades/year)
- Your annual gains exceed ~€50,000
- You earn from staking, mining, lending, or DeFi yield farming
- You hold or sold NFTs
- You're a US person (FATCA + IRS-side reporting overlap)
- You're considering moving crypto to a different jurisdiction
Typical fee for a clean crypto-only Anexo G filing: €300-€800. Worth it vs the cost of a wrong answer audited 2 years later.
Calculator estimate only. Doesn't model: NFTs, DeFi liquidity-pool gains, airdrops, hard forks, multi-jurisdictional residency. For Cat B scenarios, the simplified-regime year-1 reduction may also apply if you've never had freelance activity before. Always verify with a contabilista before filing.