We're in the home stretch for IRS 2024. Below you'll find the key filing deadline, what's changed for crypto taxation, how audits are shaping up, important news on IRS Jovem, and why the latest election results keep Portugal on a crypto-positive path. Plus: our updated 2025 eBook.
Filing Deadline & Penalties
Deadline
You have until end of June 2025 to file your IRS 2024 income tax return. Missing the deadline triggers a €75 standard fine, plus interest on any unpaid tax.
File now to avoid penalties — there's no benefit in waiting until the last day.
What's New for Crypto Taxation?
No changes in how crypto income is taxed versus prior years — the same rules apply for 2024. The 365-day exemption, FIFO, and crypto-to-crypto treatment all remain unchanged.
Audit Activity (Notably on Active Income)
Audits have picked up this season, especially around active income — including crypto-related earnings. Two clients even received nearly identical audits to last year, both resolved with very similar explanations.
Takeaway
Keep your documentation tight — trade logs, screenshots, wallet addresses, and summaries. If you were audited before, prepare the same explanations in advance.
IRS Jovem Reboot in 2025
Historically difficult to apply for in practice, IRS Jovem will have a new version in 2025 featuring automatic eligibility assessment — making it far more accessible for under-35 graduates. If you qualify, this is a significant saving.
Processing Delays: Set Your Expectations
Turnaround times vary considerably this season. As one data point: a return filed on 1 April 2025 only received its bill in the third week of June. Many filers are still waiting — delays are normal this season and not a cause for concern.
Politics & Crypto: Why the Outlook Stays Positive
Recent election results point to continuity and a slight shift to the centre-right:
AD (ruling)
Seat gains
Chega
Seat gains
Pro-crypto
IL
Stable
Moderately pro-crypto
PS
Seat losses
Net-net, this reinforces political support for crypto-friendly tax policy in Portugal — no rollbacks expected.
Resource: 2025 eBook Now Available
The 2025 edition of our Crypto Taxes in Portugal eBook is out. If you purchased a previous version, email your proof of purchase and we'll send the updated edition free. New readers can purchase via our store.
Next Steps
File before the June deadline, keep documentation ready for potential audits, and take note of the IRS Jovem upgrade. Reach out for help or to get the 2025 eBook.