
Crypto bookkeeping & Tax Consulting in 🇵🇹| Helping traders to save on IRS | ❌Not offering legal or financial advice *featured on @coinbureau, @KoinlyOfficial
Lisbon
Joined April 2020
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🌟 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!
🎉
⚡️FAQ: Portugal's 365-Day Crypto Tax Rule (Updated for 2026)🇵🇹
1⃣Do I need to hold crypto for 365 days as a Portuguese tax resident?
No, the 365-day holding period is not tied to your residency status. It applies retroactively to the total ownership duration, regardless of when you became a Portuguese tax resident. If you acquired the asset before moving to Portugal, that prior holding time counts toward the exemption threshold.
2⃣Must I keep crypto on the same exchange for 365 days to qualify for the exemption?
No, the holding period is based on your overall ownership, not the platform or institution. While FIFO calculations are tracked per institution (e.g., exchange or wallet), you can transfer assets between your own wallets or platforms without resetting the clock—transfers between personal wallets are not taxable events.
3⃣Can I hold USDC (or similar stablecoins) in DeFi for 365 days and earn yield?
Yes, you can lend, stake, or earn yield on stablecoins like USDC in DeFi protocols while holding for 365 days. The principal asset's holding period remains intact, qualifying for tax exemption on gains upon sale. However, any yield or rewards earned are treated as separate income: If sold within 365 days of receipt, they're taxed at 28% (Category G); if held longer, they're exempt. Staking or validation activities may qualify as business income (Category B) if done professionally.
4⃣Does swapping crypto for a stablecoin (e.g., USDT or USDC) reset the 365-day holding period?
No, crypto-to-crypto swaps, including those to stablecoins, do not trigger a taxable event or reset the holding period—provided the counterparty is in the EU/EEA or a jurisdiction with a tax treaty or information exchange agreement with Portugal. A recent AT binding ruling (Processo No. 28969/2025, issued around October 2025) confirms that such swaps (e.g., to USD-pegged stablecoins) preserve the original acquisition cost and holding duration under FIFO, allowing the exemption to carry over to the new asset.
5⃣Where do I report crypto sales on my IRS tax return (Modelo 3)?
Report gains in the appropriate annex of your annual IRS declaration (filed April–June for the prior year): Annex G1: For exempt long-term capital gains (held >365 days). Include acquisition/sale details, but no tax is due.
Annex G: For taxable short-term capital gains (held <365 days), taxed at a flat 28%. Use this for Portuguese-sourced or general gains.
Annex J: If gains are from foreign sources (e.g., non-EU exchanges) and don't qualify for exemption, or for certain professional activities. Professional trading/mining may fall under Category B (progressive rates up to 53%).
Keep records (e.g., transaction CSVs, wallet exports) for 10 years, as audits are possible. Consult a tax advisor for complex cases, like blacklisted jurisdictions or security tokens, which don't qualify for exemptions.
🏁If your ultimate goal is “retirement,” you need to read this👀
Ask almost any crypto degen: “Why do you want to get rich?” Nine times out of ten the answer is the same: “To retire early.”
It sounds noble. It sounds like the finish line.
But what if I told you it’s not the finish line at all? I’ve worked with people who went from zero to eight figures in under a year trading crypto. Most of them were under 30. Their single-minded mission was “retire early.” Mission accomplished… at 25. And then the emptiness hit.
At first it’s euphoria: cars, watches, real estate.
Instant dopamine.
Three months later those things are just their new baseline. The high is gone.
Then comes the “I’ll travel the world” phase. Six months of Bali, Dubai, Mykonos, Tulum. Beautiful sunsets, endless parties… and the growing realization that nowhere feels like home anymore.
Suddenly they’re restless. Bored. Asking themselves the question they never prepared for: “Now what?”
They start a company, launch a fund, chase another 100x coin; anything to feel alive again. Because the scary truth is this: Having a dream is often more fulfilling than achieving it, especially when the dream is simply “stop working.”
❌Early retirement isn’t the goal
It’s what you plan to do with the next 50–60 years of your life that matters. If you’re grinding today, don’t grind to escape work forever. Grind to earn the freedom to do the work you’d gladly do even if you never got paid again. Make your goal the life you’ll live after the money is made, not the act of stopping.
Money can buy you time, but only purpose can tell you what to do with it.
Tax guy 🇵🇹 retweeted
🚨How does the 365-day TAX FREE period actually work??
(Directly from my Ebook)
Gains from crypto assets held beyond 365 days are tax-free. However, losses are disregarded. The 365-day tax exemption period pertains “exclusively to capital gains” and does not extend to other forms of cryptocurrency gains. Capital gains refer to the scenario where an individual purchases a cryptocurrency asset using FIAT currency and subsequently sells it at a profit. Additionally, it is conceivable that an individual may acquire cryptocurrency in exchange for services rendered, in which case such income must be declared upon receipt. In such instances, the commencement of the capital gains period is initiated from the moment the cryptocurrency is received.
In the case of crypto assets acquired prior to 1 January 2023, the 365-day rule works retroactively.
No taxation arises on crypto assets held for less than 365 days whose consideration on a transfer is also crypto assets, meaning you have not sold for FIAT currency.
There is 3 ways to look at the 365-day-rule set by the government.
1⃣The government only takes in consideration the transaction from FIAT to crypto asset and from crypto asset to FIAT. This means that you can consider 365 days between these transfers as tax free, if you can proof that all trades are connected to the initial FIAT to crypto asset transfer.
Example:
On 01-01-2024 you deposit €10.000,- in an exchange. During the year, you hold multiple positions for months at the time and eventually you end up with €100.000,- of crypto assets, which you sell on 01-01-2025. As the government does not look at crypto-to-crypto, this could be considered 365 holding period in crypto.
2⃣The second way to look at it is to keep the last traded crypto asset 365 days. Preferable you would not like to hold a volatile asset for 365 days and therefor Stablecoins are created. The government does recognize Stablecoins as a different asset, but not for tax purposes as of 2024.
Example:
On 01-01-2024 you buy €10.000,- Bitcoin. On 01-03-2024 you sell your Bitcoin for a stablecoin. You hold this stable coin until 01-03-2025. In this case you held a certain crypto asset for 365 days. What is discussable is that the crypto asset which made the capital gains, was not held 365 days.
3⃣The third way and most secure way, is to hold the crypto asset where you made the profit, 365 days. This way you were in crypto 365 days and you held the crypto asset where you made the capital gains, 365 days.
Example:
On 01-01-2024 you buy €10.000,- Bitcoin. On the 31-12-2024 you sell your Bitcoin for €100.000,-.
📘cryptotaxes.lemonsqueezy.com
🚨How does the 365-day TAX FREE period actually work??
(Directly from my Ebook)
Gains from crypto assets held beyond 365 days are tax-free. However, losses are disregarded. The 365-day tax exemption period pertains “exclusively to capital gains” and does not extend to other forms of cryptocurrency gains. Capital gains refer to the scenario where an individual purchases a cryptocurrency asset using FIAT currency and subsequently sells it at a profit. Additionally, it is conceivable that an individual may acquire cryptocurrency in exchange for services rendered, in which case such income must be declared upon receipt. In such instances, the commencement of the capital gains period is initiated from the moment the cryptocurrency is received.
In the case of crypto assets acquired prior to 1 January 2023, the 365-day rule works retroactively.
No taxation arises on crypto assets held for less than 365 days whose consideration on a transfer is also crypto assets, meaning you have not sold for FIAT currency.
There is 3 ways to look at the 365-day-rule set by the government.
1⃣The government only takes in consideration the transaction from FIAT to crypto asset and from crypto asset to FIAT. This means that you can consider 365 days between these transfers as tax free, if you can proof that all trades are connected to the initial FIAT to crypto asset transfer.
Example:
On 01-01-2024 you deposit €10.000,- in an exchange. During the year, you hold multiple positions for months at the time and eventually you end up with €100.000,- of crypto assets, which you sell on 01-01-2025. As the government does not look at crypto-to-crypto, this could be considered 365 holding period in crypto.
2⃣The second way to look at it is to keep the last traded crypto asset 365 days. Preferable you would not like to hold a volatile asset for 365 days and therefor Stablecoins are created. The government does recognize Stablecoins as a different asset, but not for tax purposes as of 2024.
Example:
On 01-01-2024 you buy €10.000,- Bitcoin. On 01-03-2024 you sell your Bitcoin for a stablecoin. You hold this stable coin until 01-03-2025. In this case you held a certain crypto asset for 365 days. What is discussable is that the crypto asset which made the capital gains, was not held 365 days.
3⃣The third way and most secure way, is to hold the crypto asset where you made the profit, 365 days. This way you were in crypto 365 days and you held the crypto asset where you made the capital gains, 365 days.
Example:
On 01-01-2024 you buy €10.000,- Bitcoin. On the 31-12-2024 you sell your Bitcoin for €100.000,-.
📘cryptotaxes.lemonsqueezy.com
Tax guy 🇵🇹 retweeted
⚡️6 reasons why I am bullish on Portugal for digital nomads in Web3 🇵🇹🚀
1⃣Loads of sun and vitamine D🌞
2⃣Great food! Never heard anyone complaining about Portuguese food 🍲
3⃣Great direct flights to US, UAE and etc.✈️
4⃣High level English speakers. The Portuguese are great at languages compared to other latin countries like 🇪🇸🇫🇷🇮🇹
5⃣The Portuguese are administrative very strong! Global Business Service Centre´s like Bose, Hiscox, Siemens, Nestlé and 90 more moved to Lisbon for this reason! 📊
6⃣Great tax benefits for personal individuals investing in crypto!💰 These tax benefits count for locals too!
when i started building @oxleydotfun i never expected it to be easy, or simple
it was just a crazy idea in my head about making net new games for onchain enjoyoors because nothing's exciting rn
now i have a community of people who bully me on telegram everyday to ship new stuff. i've made new friends who inspire me to work harder (shoutout @gurtcrypto). i've spoken with 100s of traders and builders and gained extremely valuable insight into what Oxley as a product and a business should look like. i've even had independent security researchers contribute hours of their time reviewing the codebase without asking for a dime.
turns out people actually want this.
i'd like to publicly acknowledge everyone who's sat down with me, listening to me yap about why Oxley needs to exist - @_LetMeDo_ @Tunaswiminsea @Vesko_210 @Bobbyboooshayy @Jackhaldorsson - and everyone in the Elysium and HL community who's helping me work it out in real time as this new thing takes shape
i wake up everyday excited to do this because of you, knowing that some of the smartest people in crypto think Oxley is something worth building
it's only been two short weeks, and yet our plans are measured in centuries
see you on mainnet 🐂
I’m incredibly bullish on the next few months for Hyperliquid, HyperEVM and Elysium.
There’s so much cool stuff being built right now, and now that I’m back to a normal schedule, I finally have some time to connect with the builders.
Just this week I had calls with:
> @benny_options building @Bound_Exchange (Boundary perps on HyperEVM and Elysium)
> @0xJeezed building @IntelTrade (Hyperliquid trading terminal with real-time intelligence)
> @flyest building @oxleydotfun (Elysium launchpad that prices new tokens through fair auctions)
Love all 3. Smart founders solving real problems, and I think they have what it takes to find strong PMF.
Bonus, not Hyperliquid related, but I’m super bullish on what my buddy @rightclcksaveas is building with @hunchdotcool. If you’ve never traded options and you’re curious to try, I reco asking him for an invite link.
If you're building something cool in the ecosystem feel free to reach out. Always happy to give honest feedback and bounce ideas around 🫶
⚡️6 reasons why I am bullish on Portugal for digital nomads in Web3 🇵🇹🚀
1⃣Loads of sun and vitamine D🌞
2⃣Great food! Never heard anyone complaining about Portuguese food 🍲
3⃣Great direct flights to US, UAE and etc.✈️
4⃣High level English speakers. The Portuguese are great at languages compared to other latin countries like 🇪🇸🇫🇷🇮🇹
5⃣The Portuguese are administrative very strong! Global Business Service Centre´s like Bose, Hiscox, Siemens, Nestlé and 90 more moved to Lisbon for this reason! 📊
6⃣Great tax benefits for personal individuals investing in crypto!💰 These tax benefits count for locals too!
Tax guy 🇵🇹 retweeted
🫵You’re better off than you think!
The moment you realize that most people live in homes they can barely afford the mortgage on, that most cars are leased or financed, and that the vast majority of influencers on social media are renting a lifestyle in the hope that you will fund it, you’ll see you’re in a better position than you believed.
I’ve worked with influencers who rented a luxury Dubai apartment for a single day and then filmed content for weeks to create the illusion they lived there.
I’ve seen others who generated $100,000 selling trading courses while their own actual profit for the entire year was just $5,000...
Understand that 99% of what you see online is curated fiction. True wealth is quiet.
The wealthiest clients I know keep the smallest X accounts, often without a profile picture. They use the platform to gather information, not to broadcast their lives.
And some of these wealthy people are the most depressing ones you’ll meet, especially those who retired before hitting their 30s.
🫵You are better off than you think! Trust me!
🫵You’re better off than you think!
The moment you realize that most people live in homes they can barely afford the mortgage on, that most cars are leased or financed, and that the vast majority of influencers on social media are renting a lifestyle in the hope that you will fund it, you’ll see you’re in a better position than you believed.
I’ve worked with influencers who rented a luxury Dubai apartment for a single day and then filmed content for weeks to create the illusion they lived there.
I’ve seen others who generated $100,000 selling trading courses while their own actual profit for the entire year was just $5,000...
Understand that 99% of what you see online is curated fiction. True wealth is quiet.
The wealthiest clients I know keep the smallest X accounts, often without a profile picture. They use the platform to gather information, not to broadcast their lives.
And some of these wealthy people are the most depressing ones you’ll meet, especially those who retired before hitting their 30s.
🫵You are better off than you think! Trust me!
Tax guy 🇵🇹 retweeted
🙏Thank you for using my referral link to buy gift cards on Bitrefill!
I used my first profits to buy diapers. Super practical!😄
Buying Gift Cards with Crypto! Directly, Privately, No KYC 💳
🔥I’m excited to share that I’ve just been approved as a
@bitrefill affiliate. Bitrefill offers a very practical solution for anyone in Portugal who wants to convert crypto into everyday spending power. They currently provide over 36 popular gift cards usable in Portugal, including Amazon and Continente. I tested it myself this week: the process was surprisingly smooth and fast.
As a fully regulated Swedish company specializing in gift cards, Bitrefill maintains strong compliance standards and enjoys excellent customer trust: 4.6/5 on Trustpilot from over 2,751 reviews.
If you’re looking for a simple, private way to use your crypto for shopping in Portugal, I highly recommend checking them out. And if you decide to give it a try, I’d really appreciate it if you use bitrefill.com/?ref=cryptaxpt. It helps support my work at no extra cost to you (I earn 1% on purchases made through it).
🙏Thank you for using my referral link to buy gift cards on Bitrefill!
I used my first profits to buy diapers. Super practical!😄
Buying Gift Cards with Crypto! Directly, Privately, No KYC 💳
🔥I’m excited to share that I’ve just been approved as a
@bitrefill affiliate. Bitrefill offers a very practical solution for anyone in Portugal who wants to convert crypto into everyday spending power. They currently provide over 36 popular gift cards usable in Portugal, including Amazon and Continente. I tested it myself this week: the process was surprisingly smooth and fast.
As a fully regulated Swedish company specializing in gift cards, Bitrefill maintains strong compliance standards and enjoys excellent customer trust: 4.6/5 on Trustpilot from over 2,751 reviews.
If you’re looking for a simple, private way to use your crypto for shopping in Portugal, I highly recommend checking them out. And if you decide to give it a try, I’d really appreciate it if you use bitrefill.com/?ref=cryptaxpt. It helps support my work at no extra cost to you (I earn 1% on purchases made through it).
Tax guy 🇵🇹 retweeted
🎬 What is the likelihood of Portuguese tax authorities introducing stricter rules on cryptocurrency income taxation? 🇵🇹
🎬 What is the likelihood of Portuguese tax authorities introducing stricter rules on cryptocurrency income taxation? 🇵🇹
Tax guy 🇵🇹 retweeted
🔥Lisbon is voted for best travel destination of 2026!
The endless sunshine is my favorite part, especially during this season☀️
🔥Lisbon is voted for best travel destination of 2026!
The endless sunshine is my favorite part, especially during this season☀️
Tax guy 🇵🇹 retweeted
⚡️Transaction proof: Screenshots👀
One of the most common questions I've been asked is: "What the Portuguese government accepts as proof for transactions?"
The Portuguese government is asking for screenshots, but due to a limited understanding of cryptocurrency transactions, there is no further details on what screenshots. This gives you options.
You can submit screenshots from crypto tax software, exchanges, or a block explorer. However, you'll need to accompany these with a detailed letter guiding the government on what they're looking at.
⚠️Altering screenshots using AI, or other tools, is illegal, so you should only provide original documents and act in good faith.
⚡️Transaction proof: Screenshots👀
One of the most common questions I've been asked is: "What the Portuguese government accepts as proof for transactions?"
The Portuguese government is asking for screenshots, but due to a limited understanding of cryptocurrency transactions, there is no further details on what screenshots. This gives you options.
You can submit screenshots from crypto tax software, exchanges, or a block explorer. However, you'll need to accompany these with a detailed letter guiding the government on what they're looking at.
⚠️Altering screenshots using AI, or other tools, is illegal, so you should only provide original documents and act in good faith.
Tax guy 🇵🇹 retweeted
Meet the Easymaxx Returnable Bottle Container: European innovation at its finest! ✅
Streamline how you collect, store, and transport your plastic bottles effortlessly!
📍 LIDL 🇵🇹
Tax guy 🇵🇹 retweeted
💡FAQ: What counts as realised crypto capital gains in Portugal?
A common misconception is that you only “realise” your crypto capital gains when you withdraw fiat money (e.g., euros) from the exchange to your bank account.
⚠️This is incorrect.
You realise your crypto capital gains at the moment you sell or dispose of the cryptocurrency on the exchange (or elsewhere), not when you later transfer the resulting fiat to your personal bank account.
In short, you realise your cypto capital gains when:
1⃣Selling crypto for fiat (e.g., EUR).
2⃣Using crypto to buy goods/services (treated as disposal).
3⃣Using crypto debit cards to spend your crypto
4⃣Donations and gifts that you transfer to a third party












