Tax guy 🇵🇹

🌟 Portugal just won “Economy of the Year 2025” according to The Economist! 🇵🇹 For the first time ever, Portugal tops the magazine’s annual ranking of the 36 largest advanced economies, overtaking last year’s winner (Spain) and leaving powerhouses like the US, Germany or Japan far behind. What made the difference? ✅ Stronger-than-expected GDP growth (projected 1.9–2.3 %, well above the eurozone average) ✅ One of the lowest inflation rates in Europe ✅ A soaring stock market (PSI-20 among the best performers globally in 2025) ✅ Record tourism numbers and foreign investment ✅ Attractive tax regimes pulling in high-net-worth individuals and digital nomads In the words of The Economist: “Portugal combined solid growth with tame prices and a buoyant stock market better than any other rich country.” From the country that was bailed out little more than a decade ago to the best-performing advanced economy of 2025! 🎉

🏁If your ultimate goal is “retirement,” you need to read this👀 Ask almost any crypto degen: “Why do you want to get rich?” Nine times out of ten the answer is the same: “To retire early.” It sounds noble. It sounds like the finish line. But what if I told you it’s not the finish line at all? I’ve worked with people who went from zero to eight figures in under a year trading crypto. Most of them were under 30. Their single-minded mission was “retire early.” Mission accomplished… at 25. And then the emptiness hit. At first it’s euphoria: cars, watches, real estate. Instant dopamine. Three months later those things are just their new baseline. The high is gone. Then comes the “I’ll travel the world” phase. Six months of Bali, Dubai, Mykonos, Tulum. Beautiful sunsets, endless parties… and the growing realization that nowhere feels like home anymore. Suddenly they’re restless. Bored. Asking themselves the question they never prepared for: “Now what?” They start a company, launch a fund, chase another 100x coin; anything to feel alive again. Because the scary truth is this: Having a dream is often more fulfilling than achieving it, especially when the dream is simply “stop working.” ❌Early retirement isn’t the goal It’s what you plan to do with the next 50–60 years of your life that matters. If you’re grinding today, don’t grind to escape work forever. Grind to earn the freedom to do the work you’d gladly do even if you never got paid again. Make your goal the life you’ll live after the money is made, not the act of stopping. Money can buy you time, but only purpose can tell you what to do with it.

@meshuggahhhhh Thanks! 🙏

@cryptaxpt Really great post mate !!!!

@jords I´ll read it!

@cryptaxpt jords.life/p/an-opportuni… wrote about my thoughts on work vs happiness here also how to retire here: x.com/jords/status/2… main thing to consider is reframing retirement from 'never working again' to 'removing the need to work'

@rumpti @jords Absolutely!

@cryptaxpt @jords Wow.. yea that hits hard.. many lessons in there and shoutouts to your homie. Once you "win", you really realize it truly was the journey to the goal and not the goal itself.

@primestack_ @jords @cryptoklotz Thanks mate!

@jords @cryptaxpt You and @cryptoklotz are my two favorite new follows this year. Appreciate the great content and insight gentlemen.

Absolutely. I know a case of a former football team mate, which was at the end of his football career while I started. He owned and sold a catering company for 50 million. 1 week after he sold it, he regretted it and wanted to buy it back. Unfortunately 1 year in dementia hit him very early and he passed away. Im pretty sure his happiest time was when he worked.

@jords @cryptaxpt You start dying the day you don't have goals or things you are working on. Removing the need to work is a much better way of thinking about it 👌

@g_joost46550 Thanks for sharing!

@cryptaxpt I completely agree Thomas. Been there and all i felt was emptiness after a certain amount of time. But hey, it's part of a bigger process

💡TAX TIP of the day: Hold the real asset! ❌Capital Gains on a Commodity index are taxed. ✅Capital Gains on physical Gold/Silver are tax free for personal income taxes. ❌Capital Gains on the Bitcoin ETF, are taxed. ✅ Holding Capital Gains on physical $BTC for 365 days are tax free. @eToro for me is a question mark. It seems like you can hold crypto in a wallet, but I was informed that you have to sell your assets for USDT in order to take it off Etoro.

@misscryptoalbu Nope. Under NHR capital gains from securities are still taxed.

@cryptaxpt Excepted for RNH

@abakingpowers Every country in the EU works with DAC8.

@cryptaxpt So Portugal got fucked too?

@Xocolatetuga É tudo diversão e jogos até que a AT te considere um colecionador profissional de plástico e queira que recolhas IVA e pagues IRS.

Nova profissão na Tuga...parabéns a quem inventou esta porcaria

@abakingpowers Well that was the case previously, but now information is exchanged with Portugal.

@cryptaxpt I have read that if you have sold small quantity like a few hundreds in a spaced timeline, then IRS don't even bother watching you, I mean it doesn't trigger taxes. Which happens mostly to traders who frequently are selling larger amounts

@MMojow281k Nope

@cryptaxpt Do they ask for wallet addresses and complex stuff?

🚨Crypto Audits in Portugal: What Actually Happens 🇵🇹 In my previous post, I covered all the work involved in preparing for a crypto tax audit with the Autoridade Tributária (AT). You typically have 15 working days (about three weeks) to submit your response to their initial request for information or clarification. In some cases, the AT has simply gone silent on my clients after we've submitted a detailed response (see the example below). There's a strict deadline for you to reply, but the tax authority has no fixed timeline to get back to you. This leaves many clients in prolonged anxiety, waiting for resolution or potential additional tax demands. Based on general Portuguese tax rules, if no action is taken, the right to assess additional taxes prescribes after 4 years from the end of the tax year in question. Meaning the audit effectively "expires," and they can no longer pursue extra payments. ⚠️Important disclaimer: I am not a lawyer. This is based on my practical experience helping clients, not official legal advice. Always consult a qualified professional for your specific situation.

@weirangelic Your welcome bro!

Always excellent advice from @cryptaxpt 🫡

😂E-balcão – Episode: “JPEG-gate and the Phantom Power of Attorney” Look, I’ve been chatting with the Autoridade Tributária’s famous E-Balcão for years. It’s like online therapy for your tax problems: you type your question, some civil servant on the other side types back, and usually it works fine. You get your answers, life goes on. But … last week we hit rock bottom. This was not “fine”. This was a masterclass in bureaucratic comedy. I’m requesting NIFs (fiscal numbers) for clients for over a decade. Normally? Two days, boom, done. Smooth as butter. This time? Five working days of silence. Then the messages start rolling in like a bad sitcom with no laugh track. Round 1: AT: “We can’t read JPEG files. Please convert everything to PDF.” Me: …JPEGs? The format we’ve been sending since before Zoom was invented? Suddenly forbidden? Did they upgrade to Windows 95? Fine. Converted. Resent. Round 2: AT: “The Power of Attorney is missing.” Me: It’s literally the third file, named “Power_of_Attorney_Client_X.pdf”. Bold title, big font. Still, I attach it again, just in case they’re playing hide-and-seek. Round 3: AT: “Proof of address is missing.” Me: It’s right there. Driver’s license clearly states the address. Maybe they need it in Comic Sans? Round 4: AT: “The proof of address is not in PDF.” Me: [staring at the PDF I just opened myself] …It literally is. Are we looking at the same files? Or did you open someone else’s divorce papers by mistake? Round 5: AT: “The Power of Attorney needs to be notarised.” Me: [zooms in on the giant notary stamp the size of a dinner plate] …It has more stamps than a tourist passport. My solicitor basically turned it into modern art. Round 6 the finale: AT: “The acceptance of the fiscal representative does NOT replace the Power of Attorney.” Me: Correct! That’s why I sent BOTH! I’m not trying to speedrun bureaucracy; I’m following the rules! At this point the person is clearly on their first week, copy-pasting the same questions like a broken chatbot. I politely ask: “Can we please escalate to a supervisor?” No reply. Just more loops. So I did what any sane person would do: I rage-cancelled the request, opened a brand-new one… and 48 hours later, a competent human being looks at the exact same files and goes: “All good. Here’s your NIF. Moral of the story? E-Balcão is great… when you get someone who has actually read the manual. Otherwise, it’s just expensive performance art titled “How Many Times Can We Ask About the Same PDF?”Thank you, E-Balcão.