The Portuguese Consumer Protection Association recommends that the government of bitcoin investors tax
With encryption currency ecosystem in some countries has been a major adjustment, bitcoin fell below the $10000 mark. In this case, the Portuguese Consumer Protection Association DECO wants the government to impose a tax on encrypted currency investors. According to local media S, Bado introduced the organization to the finance ministry and is responsible for consumer protection of the European Commission proposed a tax on encrypted currency gains.
According to reports, DECO said, the standard rate of 28% applies not only to stocks and other financial instruments earnings should also apply to encryption currency trading profits. In the traditional DECO oriented investor magazine “ProtesteInveste” revealed in the move.
The organization said that traditional investors must pay nearly 1/3 of the profits, while encryption currency investors do not pay a penny but, this is not fair. The proposal wrote:
“What is the tax wrong this kind of financial behavior? The country’s savings to lend to ordinary depositors and investment companies and create wealth and employment of people watched the government takes nearly 1/3 of its profits (personal income and capital gains tax rate is usually 28%). How can justify this inequality? I think it is very difficult.”
DECO economist Andr Gouveia reiterated that all other types of investment are required to pay 28% tax, therefore encryption currency investment do not pay taxes is not fair.
As CCN previously reported that, despite the lack of regulations, but the Portuguese government has to tax bitcoin users. The Ministry of finance made it clear that bitcoin has no legal framework in the local, but still pointed out that if the encryption of monetary income comes from a professional activity, then it should pay taxes.
According to S Bado reported that the Portuguese government will likely bitcoin supervision to the EU, seems to make the financial regulators, such as the Bank of Portugal, together with the European Union to deal with any problems related to encryption currency.
When asked this question, parliamentary vice chairman and Party spokesman Jo oGalamba said: “bitcoin? Should be regulated in Europe and G20 level, and added,” make a separate move “would be counterproductive.
S Bado also talked with the left and right party. The left wing did not clarify their own plans to take any action on the encryption and the right money, “said they pay close attention to this theme, one party is assessment of the relevant regulatory requirements.
CCN has been previously reported, the Portuguese Bank of Santander (SantanderTotta) recently began to stop bitcoin related transactions, making some customers to other banks. According to reports, the Portuguese finance minister and the euro group president Mario Centeno (M rioCenteno) said that he believes that regulators are supervision of bitcoin’s influence.