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!
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!