Crypto Capital Gains Tax
Crypto Capital Gains — IRS
Sold crypto? See whether the gain is taxed at 28% or exempt under the 365-day rule, which annex you declare it in (G or G1) and what is left after tax — all in your browser.
By Elijah 6 MIN KEY FACTS
365-day rule
Crypto held 365 days or more: gain excluded from tax (but still declared)
Under 365 days
Gain taxed at 28% (autonomous) or via englobamento
Crypto for crypto
A swap is not a taxable event — tax deferred until you exit to fiat or goods
Legal basis
CIRS art. 10 (k), 43 (FIFO) and 72 — regime since the 2023 Budget
Comissões de compra e venda comprovadas, deduzidas ao ganho.
Para euros Para bens Troca cripto
Não Sim
Se a contraparte estiver numa jurisdição não cooperante (lista da Portaria 150/2004), perde a isenção dos 365 dias.
28% autónoma Englobamento
ESTIMATIVA —
IRS estimado
—
Mais-valia—
Tempo de detenção—
Taxa aplicada—
Anexo a usar—
Líquido após imposto—
Introduza os valores para ver a estimativa.
How this works
Since the 2023 State Budget, selling crypto in Portugal is subject to IRS as a capital gain (category G). The pivot is the holding period: if you hold the crypto for 365 days or more, the gain is excluded from tax; if you hold it for less than 365 days, the gain is taxed, usually at the 28% autonomous rate. Swapping crypto for crypto does not count as a sale — tax is deferred until you exit to euros, goods or services. This tool counts the days, applies the right rule and shows you the estimated tax and the annex to use.
- 1 Enter the datesAcquisition date and sale date. The tool counts the holding days and tests the 365-day boundary.
- 2 Enter the figuresAcquisition cost, realisation value and the buying/selling fees.
- 3 Pick the exit typeTo euros, to goods or services, or a swap for another crypto (the last one is deferred).
- 4 Read the resultExempt (Anexo G1) or taxed at 28% (Anexo G, table 18A), with the gain and the net after tax.
Frequently asked
So Portugal does not have 0% tax on crypto?
No — that is a myth. Portugal has a conditional exemption, not a zero rate. If you sell crypto you had held for 365 days or more, the gain is excluded from tax (article 10 of the IRS Code). But if you held it for less than 365 days, the gain is taxed — the standard rate is 28% (article 72), with an englobamento option. In other words, the "0%" only exists if you hold the position for at least a year.
Is swapping one crypto for another (e.g. BTC for ETH) taxed?
Not at the moment of the swap. When the consideration for a crypto sale is itself crypto, there is no taxation: the crypto received inherits the acquisition value — and date — of what you handed over (article 10 of the IRS Code). Tax is merely deferred: it is only settled when you exit to euros, or use the crypto to buy goods or services. Note that the 365-day clock keeps running from the original purchase, not from the swap.
If the gain is exempt, do I still have to declare it?
Yes. Exempt is not the same as invisible. Gains on crypto held 365 days or more are declared in Anexo G1 (the annex for non-taxed income) of the Modelo 3 return. Gains on crypto held under 365 days go in Anexo G, table 18A, where they are taxed. Declaring in G1 even while exempt is what supports the exemption — not declaring can cause problems if the tax authority cross-checks exchange data.
I have Non-Habitual Resident (NHR) status. Does that change anything?
For the 365-day rule, no. The exclusion for gains on crypto held 365 days or more is a category G rule of the IRS and applies whether or not you have NHR. NHR has its own rules for other income, but it does not change the 365-day mechanics or the 28% rate for a sale within the year. This calculator assumes a Portuguese tax resident.
I am leaving Portugal mid-year. What happens to my crypto?
There are two issues. First, tax residency: if you stay 183 days or keep your habitual home here during the year, you are taxed as a resident that year. Second, the exit tax: losing Portuguese resident status is treated as an onerous disposal of your crypto (article 10 of the IRS Code) — you are deemed to have "sold" at market value on the date of departure and the latent gain can be taxed. This is a case to confirm with an accountant before changing residence.
What about staking and mining? Are they capital gains?
No. This tool only models the sale (disposal) of crypto-assets. Staking and other passive rewards generally fall under category E (investment income); mining and transaction validation are typically category B (business activity), as is anyone trading professionally and habitually. Those situations have different rules and rates — and are worth a conversation with an accountant.
OFFICIAL SOURCES
- Código do IRS — artigo 10.º (Mais-valias, al. k, exclusão dos 365 dias, imposto de saída) ↗ Selling crypto is a capital gain (k); gains on crypto held ≥365 days are excluded; losing residency equals a disposal.
- Código do IRS — artigo 72.º (taxa autónoma de 28% e englobamento) ↗ The positive balance from (k) operations is taxed at 28%, with an englobamento option.
- Código do IRS — artigo 43.º (saldo, regra FIFO para cripto, perdas) ↗ For crypto-assets, the ones sold are the ones acquired first (FIFO); losses with tax-haven counterparties do not count.
- Lei n.º 24-D/2022 (OE 2023) — criação do regime de tributação de cripto ↗ The 2023 State Budget that introduced crypto-asset taxation into the IRS Code.
DISCLAIMER
An estimate, not an official calculation, and crypto taxation is an evolving area guided by binding rulings from the tax authority. The tool assumes a Portuguese tax resident, models only the sale of crypto-assets that are not securities (it does not model staking, mining, DeFi, airdrops or professional trading) and uses the 2026 IRS brackets. Not tax advice — complex cases need an accountant, and the tax authority's own simulation prevails.