Crypto taxes in Portugal 2026

Portugal taxes crypto gains at 28% flat if you dispose within 365 days of acquisition. Hold longer — disposal on day 366 or later — and the gain is tax-free. This is the headline. The detail is where it breaks.

The 365-day rule

• Holding period measured per asset, per lot (FIFO by default).
• Gains = disposal proceeds − acquisition cost (including fees).
• <365 days: 28% IRS flat. ≥366 days: 0%.
• Rule has applied since 2023; AT enforcement has tightened in 2025-26.

The swap-reset gotcha

A crypto-to-crypto swap (e.g. BTC → ETH) is treated as a disposal of the first asset and an acquisition of the second. The holding period for the new asset resets to zero on that date. If you bought BTC 3 years ago and swapped to ETH last month, your ETH is 1 month old for tax purposes.

Staking + DeFi

Staking rewards, yield farming, and airdrops may be classified as professional activity income (Category B) rather than investment gains — depending on frequency, scale, and automation. Professional classification triggers standard IRS brackets AND Segurança Social contributions. The line is not crisp. If staking or DeFi is more than a minor side activity, talk to an accountant who understands the classification test.

Filing in Modelo 3 Annex G

Crypto gains are reported in Annex G of Modelo 3 (Capital Gains). You must record acquisition date, acquisition cost, disposal date, disposal proceeds, and net gain per lot. The Portal das Finanças does not import automatically from exchanges — keep clean transaction records.