You've held Bitcoin for 14 months and resell it with a big gain. How much tax in Portugal?

0%: held over a year, the gain is exempt. In Portugal, crypto held for more than a year (365 days) has its gain exempt: 0% tax, whatever the size of the gain.

You resell a crypto after 4 months with a gain. How is it taxed?

At a flat 28%. Under one year of holding, the crypto gain is taxed in Portugal at a flat 28%.

How is the taxable gain worked out in Portugal?

Sale price minus purchase price. The taxable gain is the difference between the sale price and the purchase price. The 28% rate applies to that gain, only if the sale happens before a year of holding.

Crypto tax in Portugal | Deblock Guide

Q: Where do you declare your taxable crypto gains in Portugal?

In your income tax return (IRS), via the Portal das Finanças. Taxable gains are declared in the IRS to the Autoridade Tributária, via the Portal das Finanças. As a Portuguese resident, you declare your own gains — a French account doesn't do it for you.

Introduction

Portugal long had the reputation of a crypto tax haven. Since 2023, the country does tax crypto — but with logic that's very favourable to the patient holder. The rule that changes everything: if you hold for more than a year, the gain is exempt. Under a year, a flat 28% rate applies. This module explains that logic simply, so you understand when you pay, when you don't, and how to declare. Important: this content is educational, not personalised tax advice — for your situation, consult a contabilista or tax adviser.

The principle: the 1-year rule

In Portugal, selling crypto you've held for more than a year (365 days) triggers no tax on the gain. It's exempt. This is the cornerstone of the system since 2023: the holding period is the decisive test.

Conversely, if you resell within a year, the gain is taxed at 28%. So the moment that matters isn't only "am I selling?", but above all "how long have I held?". Simply holding your crypto without selling triggers nothing: an unrealised gain isn't taxed.

Common belief

Portugal is a total crypto tax haven, it's always 0%.

Actually : Not since 2023. The gain is exempt only if you hold for more than a year. If you sell within a year, it's 28% on the gain. The holding period makes all the difference.

The 28% short-term rate

If you sell before the one-year mark, your gain is taxed at a flat 28%. It falls under capital income (category G of the IRS). Unlike Germany, where short-term gains follow a progressive scale, Portugal applies a single, clear rate here.

The taxable gain is simple to work out: sale price minus purchase price. The 28% rate applies to that difference — your real gain — and only if the disposal happens before a year of holding.

Held ≥ 1 year: gain exempt, 0% tax.
Held < 1 year: 28% on the gain.
Taxable gain = sale price − purchase price.

Why holding over a year wins

The Portuguese advantage rewards the patient investor. Where selling a few months after buying costs 28% of the gain, waiting to cross the 365-day mark drops the tax to zero. The very same gain can therefore be taxed at 28% or not at all, depending solely on the sale date.

To benefit from this rule, the essential habit is to track your purchase dates. If you buy in several batches, each lot has its own date: you need to know, lot by lot, how long you've held. A clean record of your operations is your best protection at filing time.

Key insight

Track your purchase dates

The line between 28% and 0% is one year of holding. Keeping the purchase date of each lot lets you know exactly when a sale becomes exempt — and avoid selling a few days too early.

How to declare, and the role of a French account

Your taxable crypto gains are declared in your income tax return (IRS) to the Autoridade Tributária, via the Portal das Finanças. You report your under-one-year sales there, keeping a record of your lots (purchase dates and prices) to evidence the holding period and the gain calculation.

Deblock is regulated in France, not in Portugal. That doesn't change your duty: as a Portuguese resident, it's up to you to declare your own gains to the Autoridade Tributária. The account doesn't declare on your behalf and removes no Portuguese filing obligation.

Rules evolve and every situation is specific (staking, lending, multiple lots). When in doubt, a contabilista or tax adviser is the right call.

Declared in the IRS, via the Portal das Finanças.
Keep a record of your lots (purchase dates and prices).
Portuguese resident = you declare to the Autoridade Tributária yourself.

Key takeaways

What you should remember

01Held > 1 year = gain exempt, 0% tax. That's Portugal's flagship advantage.
02Held < 1 year = 28% on the gain (sale price − purchase price).
03Track your purchase dates lot by lot: that's the key to crossing the 1-year mark.
04Declared in the IRS via the Portal das Finanças. Educational content, not tax advice — consult a contabilista.

Simplified calculation