Yeah he is clearly full of cow manure. Almost all his comments are misguided opinions, here-say, or outright FUD
Maria Anna Pescadinha, a Portuguese attorney was recently on Crypto tips youtube channel and she said Portugal not taxing crypto is not ending anytime soon bc there is currently no law proposed to change the status of btc to a coin of legal tender. If it's not legal tender u can't be taxed on it.
Why would something have to be legal tender to be taxed? If you buy and sell houses, cars, anything for a profit, then they will will want taxes on those profits.
From what I have read, he could be correct. Source:
Cryptocurrency Taxation in Portugal - Madeira Corporate Services
Cryptocurrency taxation in Madeira and Portugal is straightforward in terms of personal income taxes, but special attention needs to pay...
mcs.pt
So it sounds like if you are trading crypto and the tax authorities decide you are doing it as a “professional or entrepreneurial activity” then you should have paid tax. Not a risk I would want to take personally, good luck arguing it’s not a professional or entrepreneurial activity if you are trading and cashing out large amounts.
Maybe he is wrong about it being 1 trade that triggers this, but unless there is a clear official guideline then it seems risky.
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