![Portuguese Proposal Would Enact Taxes on Crypto Transfers, Capital Gains Portuguese Proposal Would Enact Taxes on Crypto Transfers, Capital Gains](https://www.coindesk.com/resizer/mAXxxElKJCXS1KelTQSeUw_SSGM=/800x600/cloudfront-us-east-1.images.arcpublishing.com/coindesk/DL7FGSQEH5CQDKMH4ID3K2NU6Y.jpg)
While the country already taxed capital gains on cryptocurrency holdings derived from professional or business activities, individual citizens were exempt. The new budget draft, however, calls for a levy of 28% on capital gains from cryptocurrency assets held for less than a year. Gains on cryptos held for a period of longer than a year would remain unaffected.