Crypto tax in Portugal
Rules verified in September 2026.
Short term
28%
Long term
Exempt
Threshold
≥ 365 days
Annual allowance
Not applicable
Cost method
FIFO, per wallet/exchange
Legislation
CIRS art. 10(22)–(24), 43(8)(g) & (9), 72; Lei 24-D/2022 art. 218
In short
Gains on crypto held for 365 days or more are excluded from tax (since 2023) but still declared, in annex G1. Below 365 days, 28% applies to the profit (or aggregation, by election), in annex G. FIFO is mandatory, applied per exchange or wallet.
Key points
- Excluded from tax if held 365 days or more (annex G1)
- 28% on gains below 365 days (annex G), or aggregation by election
- FIFO mandatory (art. 43(8)(g) CIRS), applied per exchange/wallet (43(9))
- The exclusion and the non-taxation of crypto-to-crypto swaps only apply if the counterparty is resident in the EU/EEA or a treaty country (art. 10(24))
- Crypto-to-crypto swaps are not taxed until sold for money
- Law 24-D/2022, art. 218 (CIRS art. 10(22))
How to show you have held the crypto for 365 days or more
The rule is simple: the gain on a sale is excluded from tax only if the crypto sold was held for 365 days or more. The hard part is showing the date you bought each unit. The law does not list accepted documents, but it says two things that help you build the file.
What the law says
Whoever relies on a fact has to prove it (General Tax Law, article 74). If you declare a gain as excluded because you held the crypto for 365 days or more, you are the one who has to show the acquisition date. The Personal Income Tax Code also requires you to keep the documents behind your return for four years, the period in which the tax authority can review it. Excluded gains are still declared, in annex G1 of the IRS return; taxed gains go in annex G.
What to keep, for every purchase
Three things: the date, the amount and what you paid. In practice that means the exchange statement or order history (export it as CSV or PDF while the account exists), the bank transfer or card receipt used to fund the account, and, if you moved the crypto to your own wallet, the transaction id on the blockchain, which is public with date and time. A bank statement showing money going to the exchange, without the purchase record, proves the money but not the crypto.
DCA: weekly buys and everything is mixed up
The Income Tax Code requires FIFO (art. 43(8)(g)): when you sell, the units bought longest ago are treated as sold first. The order is counted within each exchange or wallet, not across all of them (art. 43(9)). So you do not choose lots; you need the full list of purchases with dates, exchange by exchange. If you sell 0.1 BTC and your oldest purchases add up to 0.1 BTC held for 365 days or more, that gain is excluded. If the sale is larger than what has passed 365 days, the remainder comes from the next lots and is taxed at 28%. One sale can have an excluded part and a taxed part.
The exchange closed or will not give you the history
Gather what is left: order confirmation emails, bank statements of the transfers to the exchange with their dates, and the blockchain record of the withdrawal to your wallet. If the exchange still answers personal data requests, ask for the full history in writing; in the European Union you have that right under the GDPR. The Income Tax Code provides that, if the documents were lost for reasons not attributable to you, other evidence may be used (art. 128(4)). If none of this exists, the acquisition date is unproven, and the safe route is to talk to an accountant before filing.
The crypto came from my own wallet, no exchange
The blockchain records the date the crypto entered your address and proves that date. It does not prove what you paid, nor whether the purchase happened earlier. Pair the on-chain record with proof of origin (the exchange it came from, or the operation in which you received it). A transfer between your own wallets is not a sale: what counts for the 365 days is the date you acquired the crypto, not the date you moved it.
What ChainFolioAI does
Every purchase is recorded with date, amount and price, either from the exchange CSV or entered by hand. The calculation applies FIFO (across all wallets; see the note below) and, for each sale, shows which purchases it came from, with buy and sell dates, and whether it fell under or over 365 days. You export the result as PDF or Excel for your accountant. The record is yours; the exchange can close and it stays.
The law publishes no list of accepted documents for crypto; the above is what the law requires and what good record-keeping looks like. Acceptance is decided by the tax authority case by case. If part of your purchase history is missing, review the case with an accountant before filing.
Frequently asked questions
How much tax do you pay on crypto in Portugal?
28% · Exempt. Gains on crypto held for 365 days or more are excluded from tax (since 2023) but still declared, in annex G1. Below 365 days, 28% applies to the profit (or aggregation, by election), in annex G. FIFO is mandatory, applied per exchange or wallet.
Is there an annual allowance on crypto gains in Portugal?
There is no crypto-specific annual allowance on capital gains in Portugal.
Which method is used to match buys and sells?
It depends on the country: FIFO (the first unit bought is the first sold) in Portugal, Spain, Germany or Belgium; weighted average cost in France, Luxembourg or Brazil; LIFO in Italy; the Section 104 pool in the UK. ChainFolioAI applies the chosen country's method to your history (in some countries with a simplification, stated on this page) and exports the result.
How do I prove to the Portuguese tax authority that I have held this crypto for more than a year?
With the record of each purchase: date, amount and price paid. In practice, the exchange history, the bank transfer receipt and, if you moved the crypto to your own wallet, the transaction id on the blockchain. The law puts the burden of proof on you (General Tax Law, article 74) and publishes no list of accepted documents; acceptance is decided case by case.
I bought every week for a year and it is all mixed up. How do I know what has passed 365 days?
Through FIFO, which the Income Tax Code requires (art. 43(8)(g)), counted within each exchange or wallet (43(9)): what was bought first is sold first. Sort each exchange's purchases by date and add up from the oldest until you reach the amount sold. Whatever has 365 days or more is excluded; the rest is taxed at 28%. One sale can have both parts.
The exchange closed and I cannot get the history. What now?
Gather what is left: confirmation emails, bank statements of the transfers and the blockchain record of the withdrawal to your wallet. If the exchange still exists, request the history in writing under the GDPR. With no record at all, the date is unproven; talk to an accountant before filing.
The crypto is in my own wallet, no exchange. How do I prove the date?
The blockchain proves the date the crypto entered your address. It does not prove the price or whether the purchase was earlier, so pair it with proof of origin. Moving crypto between your own wallets is not a sale and does not restart the 365-day count.
Calculate on your own history
The rate is only half the problem. To file, you need to match each disposal to the right acquisition under the country's method (FIFO, average cost, LIFO…), convert to your currency at the date of each transaction, and separate short-term from long-term. ChainFolioAI does this from your transactions — connect wallets read-only or import a CSV from your exchange — and exports to PDF or Excel.
This country's method: FIFO, per wallet/exchange. FIFO is applied per exchange or wallet, using the name given on each trade. Transfers between wallets are not recorded: when a sale has too few purchases in the same wallet, the calculator uses the oldest ones from the others. For crypto-to-crypto swaps imported as swaps, the calculator does not tax them and carries the cost to the coin received; the 365-day period counts from the swap, because the law only says the value carries over. Confirm the figure to declare with an accountant.
Other countries
⚠️ General information, not tax advice. Rules change and your situation may have specifics (residency, professional activity, staking, mining). Confirm with an accountant or your tax authority before filing. ChainFolioAI is not an exchange or a crypto-asset service provider and does not report your data to any tax authority: reporting duties (DAC8, CARF) fall on exchanges. The reports you export are yours alone.