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Crypto Taxes: How Brazil, the US, Portugal and the UAE Compare
Crypto & Currencies

Crypto Taxes: How Brazil, the US, Portugal and the UAE Compare

The same bitcoin gain can be tax-free in one country and taxed at up to 37% in another. A plain-English map of four popular jurisdictions.

MAN TARGET EditorsOctober 25, 2026 3 min read

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Crypto may be borderless, but tax is not. What you owe depends far less on which coin you hold than on where you are tax resident, how long you held it and where it sits. Below is a simplified map of four jurisdictions that come up often among internationally mobile men. It is a starting point for a conversation with a qualified adviser, not a substitute for one.

Brazil

  • Domestic gains. Profits are exempt in any month when total crypto sales are R$35,000 or less. Above that, gains are taxed progressively at 15% up to R$5 million, rising to 22.5% above R$30 million.
  • Crypto held abroad. Under Law 14,754/2023, qualifying crypto held offshore is generally treated as a foreign financial investment, taxed at 15% a year on realised gains, without the monthly exemption.
  • Proposed changes. Provisional Measure 1,303/2025 would have replaced the exemption with a flat 17.5% rate, but it expired in October 2025 without a vote.
  • Reporting. Holdings go on the annual return, and DeCripto applies to operations outside Brazilian providers above R$35,000 a month.
In crypto, your passport matters less than your tax residency and your records.
Good records of every purchase and sale are the cheapest tax advice you will get.
Good records of every purchase and sale are the cheapest tax advice you will get.

United States

The IRS treats digital assets as property, not currency. Selling, swapping one coin for another or paying for goods with crypto can trigger a capital gain or loss. Assets held for one year or less are taxed at ordinary income rates, up to 37% at the federal level; assets held for longer qualify for long-term capital gains rates, generally 0%, 15% or 20% depending on income. US brokers now report digital-asset sales to the IRS on the new Form 1099-DA. Mining and staking rewards are generally taxed as income when received, and US citizens are taxed on worldwide income wherever they live.

Portugal and the UAE

  • Portugal. Since 2023, gains on crypto held for less than 365 days are taxed at a flat 28%.
  • Crypto held for 365 days or more is generally exempt, with exceptions such as security-like tokens and counterparties in blacklisted jurisdictions; staking income is taxed at 28%.
  • UAE. The Emirates levy no personal income tax on individuals, so personal crypto gains are not taxed there.
  • The catch. Business activity can fall under UAE corporate tax, and leaving a high-tax country without breaking residency can leave you taxable at home.

Risk note: this article is general information as of October 2026, not tax, legal or investment advice. Rates, thresholds and exemptions change, and your situation depends on residency, treaties and the details of each transaction. Consult a qualified tax adviser in each country involved before acting.

Key takeaways

  • Brazil exempts gains in months when domestic crypto sales stay at or below R$35,000.
  • The US taxes crypto as property; holding over a year usually means lower rates.
  • Portugal taxes gains on crypto held under 365 days at 28%; longer holdings are generally exempt.
  • The UAE has no personal income tax, but your tax residency decides what you owe.
#crypto tax#brazil tax#us tax#portugal#uae

FAQ

Do I pay tax on crypto in Brazil if I sell less than R$35,000 a month?

Gains on domestic crypto sales are exempt in months when total sales stay at or below R$35,000. The exemption does not apply to crypto held abroad under Law 14,754/2023.

Is swapping one crypto for another taxable in the US?

Generally yes. The IRS treats a crypto-to-crypto swap as a disposal of property, which can produce a taxable gain or loss.

Is crypto tax-free in Portugal?

Gains on crypto held for 365 days or more are generally exempt; gains on holdings under 365 days are taxed at 28%, and there are exceptions.

Need an international tax adviser who understands crypto? Ask about Man Target's vetted partners.

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