Portuguese Congress Rejects Two Bills Seeking to Tax Crypto The proposals were submitted by two leftist parties. The government, which also seeks to apply taxes, hasn’t submitted a proposal so far.
Portugal’s Congress, the Assembleia da República, rejected on Wednesday two bills that sought to tax cryptocurrencies. The bills were presented by Livre and Bloco, two left-wing parties with little representation in the Portuguese Congress, local media Sapo reported.
The ruling Socialist Party, which holds the majority of the legislative assembly seats, has not submitted any taxation bill of its own so far. Portuguese Minister of Finance Fernando Medina announced last week that cryptocurrencies will be subject to taxation in the near future.
“Many countries already have systems, many countries are building their models in relation to this subject and we will build our own,” he said at the time.Portugal has an effective capital gains rate of zero on crypto, compared to the current capital gains tax rate for financial investment, of 28%.
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The new policy proposed by the government would include a capital gains tax, Susana Duarte, an associated partner at Abreu Advogados law firm in Lisbon, told CoinDesk last week.
32 cases in Portugal, Spain put Europe on alert for monkeypox Monkeypox is a virus that often infects people in DR Congo, Nigeria and other parts central and West Africa, leading to an eruption of lesions and other symptoms in an illness that can last 2-4 weeks.
Officials in Spain and Portugal announced on Wednesday that they have detected around 32 suspected cases of monkeypox, days after the UK reported new cases that have triggered concerns that there may be an undetected transmission in parts of Europe.
Monkeypox is a virus that often infects people in DR Congo, Nigeria and other parts central and West Africa, leading to an eruption of lesions and other symptoms in an illness that can last 2-4 weeks. The disease is not particularly deadly, but is estimated to have a fatality rate of up to 10%. In all, Portugal had five confirmed and 20 suspected cases, Spain eight suspected cases and UK seven confirmed infections as on Wednesday.
Experts urge people not to panic over a handful of suspected cases of monkeypox under investigation in Quebec. It comes as infections appear to be spreading in several countries through close contact with others.
The World Health Organization said Tuesday it was coordinating with UK, where cases have been found in those without a travel history to Africa, to investigate the outbreak. The virus typically has an incubation period of 6-13 days and leads to fever, headache, muscle aches, backache, swollen lymph nodes, a general feeling of discomfort, exhaustion, and rash.
The UK Health Security Agency (UKHSA) said on Monday it detected four new cases after registering three cases earlier in May. Health officials noted some of the UK infections may be through sexual contact, which would be a new development in understanding transmission of the virus.The disease is not sexually transmitted per se, but infection can occur due to respiratory droplets, contact with lesions or a person’s clothing.
