Portugal-Does Portugal tax its individual tax residents on foreign currency capital gains (not crypto)

Does Portugal tax foreign currency capital gains on Individuals (NOT companies and/or businesses) , for example converting with a bank a US Dollars amount to Euros or British Pounds amounts .

Good question. I would like an answer to this, as well, please!


it depends on many factors. If you are a normal portuguese tax resident you will be taxated on your worldwide taxation so yes. Regular tax rate for capital gain is 28%. In this case you will have to activate the double taxation treaty between Portugal and the state where the trading operations are made to obtain relief.
If you are a portuguese non habitual resident, there is the possibility for a tax exemption but again depending on the double taxation treaty between Portugal and the state where operations are conducted.

Without knowing where you do your tradings the question cannot be answered.

The question relates to a simple conversion of say GBP to USD .
This is NOT about trading/regular business for profit.
There is a close list of assets which are liable for Capital Gains Tax .
It was recently ruled that Crypto Currencies are NOT liable to Capital Gains Tax in Portugal.
My question to the expert panel is ;
Are Currencies exempt from Capital Gails or are they on close list for Portguese Capital Gains tax purposes ?