The 2023 rules stipulate that when you stop being a resident of Portugal, you cough up 28% of the capital gains on the current VALUE of your holdings
It's an Exit Tax.
Do not move to Portugal!! Unless you want to stay forever (or pay a third of your gains)
And how do they enforce it after you leave Portugal? Courts of your new country usually do not enforce tax for foreign countries, at least according to Wikipedia: https://en.wikipedia.org/wiki/Rule_against_foreign_revenue_enforcement . Of course, you should not return to Portugal , this is perhaps the only downside.
Bastardos
Exit taxes exist in a bunch of countries
name and shame! I believe Canada is another one..
How would they know how much "crypto" you have?
Because many people did KYC purchases, so they can quantify or guesstimate how much you have.
Naturally that doesn't apply to anyone on Stacker News. No one here owns any bitcoin after all.
reason #42667 is why kyc is harmful
lots of coastline in Portugal. Lots of boats, too. Also mountains! Have you ever had a hiking accident at a ridge? Those can be deep!
KYC
That is why non-KYC accumulation is the way to go. But with today's non-KYC exchange liquidity, it's hard to on board / meet enough demand if there was a sudden large influx of fiat trying to exit into bitcoin. We really need better non-KYC exchanges with better on boarding experience and larger liquidity pools...
What if you just run away to never come back?
Then you don't have to pay that gain in the next country right? Hopefully. Anyway it is strange to tax international property like that.
The US taxes your -unrealized- capital gains if you want to leave gitmo nation https://americansoverseas.org/en/news/us-exit-tax/
What the...