The Portuguese Consumer Protection Association advises the government to tax Bitcoin investors

nBankruptcy comment: Deco, the Portuguese Consumer Protection Association, recently sent a proposal to the relevant officials of the Portuguese Ministry of Finance and the European Commission saying tax on cryptocurrencies should be taxed on the basis of the tax rates on proceeds from equities and other financial instruments because the current cryptocurrencies Investors do not pay taxes for the traditional investors is not fair. Although the Portuguese government is willing to take such measures, it seems that it does not intend to formulate a specific regulatory policy, so this issue should not be solved within a short period of time.n
nTranslation: Inan
As the cryptocurrency ecosystem has been significantly adjusted in some countries, Bitcoin has broken the $ 10,000 mark. In this case, DECO, a consumer protection society in Portugal, wants the government to tax cryptocurrency investors. According to Sábado, a local media, the group proposed to the Portuguese Ministry of Finance and members of the European Commission responsible for consumer protection to impose a tax on cryptocurrencies.n
According to reports, DECO said that the standard tax rate of 28% applies not only to proceeds from equities and other financial instruments, but also to profits from crypto-currency transactions. DECO revealed this move in its magazine “Proteste Investe” for traditional investors.n
The group said it is not fair that traditional investors must pay nearly a third of their profits, whereas cryptocurrencies do not pay penny. Its proposal reads:n
n”What is the reason for not taxing such financial behavior? Those who lend their savings to ordinary depositors and investment firms in the country and create wealth and employment should watch as the government take away nearly a third of its profits (individuals Income and capital gains tax rate is usually 28%.) How can justify this inequality? I think it is difficult.n
nDECO economist André Gouveia reiterated that all other types of investments require a 28% tax, so it is unfair to invest the money in a cryptocurrency without pay.n
As previously reported by the CCN, despite the lack of legislation, the Portuguese government has always wanted to tax Bitcoin users. Its Ministry of Finance made it clear that Bitcoin does not have a legal framework in the area, but still points out that if cryptocurrency is earned through professional activities, it should be taxed.n
According to Sábado, the Portuguese government currently leaves the potential for bitcoin regulation to the EU as if it had its financial regulators, such as the Central Bank of Portugal, work with the EU on any issues related to cryptocurrencies.n
Asked about the issue, Jo? O Galamba, vice chairman and party spokesman of the Parliamentary Group, said: “Bitcoin should be regulated at the European and G20 levels,” adding that a “separate initiative” will be launched To the reaction.n
Sábado also spoke with left and right-wing parties. The left clarified that there was no plan to take any action on cryptocurrencies, while the right-wing said they are “closely following” the topic, with one of the parties evaluating the need for regulatory oversight.n
CCN has previously reported that Portugal’s Santander Totta recently started to block bitcoin-related transactions, diverting some customers to other banks. Mário Centeno, Portugal’s finance minister and president of the Euro group, reportedly said he believes the regulator is overseeing the bitcoin’s influence.n

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