Trading FOREX in Portugal - advice needed

learo

Newbie
Messages
1
Likes
0
Hello

Im considering moving to Portugal and trade Forex full-time. Does anyone have any information about how the Portuguese tax authorities will tax forex profits?

I only trade cash FX (not CFD, not Spread betting).

Will any profits be taxed as a Capital Gain? If so, at what percentage? Ive tried to do some background reading on this and it seems like most incomes from investments is taxed at either 20% or 25%. Would the same be true of Forex?

Or... will forex profits just be subject to normal income tax. If this is the case, tax rates in Portugal go all the way up to nearly 50%, which is not so good (ahem... not assuming I will make that much!)

Ive tried to speak with some local tax advisors in Portugal, but they dont seem very familiar with this issue.

If anyone has any personal experience about this, I would be grateful if they can share it.

thanks in advance!
 
Hi Learo!i'm vietnamese
I think that Portugal or any country trader can be successful just keep learning the about Forex !i can't help you but i hope you will be successful:)
 
Hello

Im considering moving to Portugal and trade Forex full-time. Does anyone have any information about how the Portuguese tax authorities will tax forex profits?

I only trade cash FX (not CFD, not Spread betting).

Will any profits be taxed as a Capital Gain? If so, at what percentage? Ive tried to do some background reading on this and it seems like most incomes from investments is taxed at either 20% or 25%. Would the same be true of Forex?

Or... will forex profits just be subject to normal income tax. If this is the case, tax rates in Portugal go all the way up to nearly 50%, which is not so good (ahem... not assuming I will make that much!)

Ive tried to speak with some local tax advisors in Portugal, but they dont seem very familiar with this issue.

If anyone has any personal experience about this, I would be grateful if they can share it.

thanks in advance!

Hi Learo,

I was wondering if you found out anymore about trading forex in Portugal.

Apparently there is a 10-year tax free window on income earned outside Portugal for expats living in Portugal. However expats are subject to "wealth tax" such as capitals gains. The question therefore is - are profits earned from forex treated as income or capital gains? I would imagine if you can prove that you are trading full-time then profits would have to be treated as income. Anyway, would be glad to hear what you've found out since your original post.

Best regards,

buyit
 
In 2016, the Portuguese tax authority published a document that explained that income from the sale of crypto in Portugal is not subject to income tax. So since 2016, you don’t have to pay tax both for crypto or forex. I know all of this cuz I moved to Portugal, I liked this country when I was young and thought that it would be nice to sell cryptocurrency here and just chill. So a year ago https://ptnhr.com/apply helped me to get nhr-habitual residence very fast and easy. Good luck man.

I'd heard about crypto being tax free, but what have you specifically seen saying forex is tax free too? I also live in Portugal, thanks
 
Hi Learo!i'm vietnamese
I think that Portugal or any country trader can be successful just keep learning the about Forex !i can't help you but i hope you will be successful:)
thanks for encouraging him , its good , i appreciate , but i got a message from you that its be very to be a successful trader by learning within minimum time. looks very easy task but in practical trading life only 2-5% traders successful from this market place.
 
Which broker should be good for Portugal traders?

it depends on your trading conditions, lots of trading platforms there is , you have to choose the one which allows all your trading conditions. hope you got the message.
 
Top