1) Crypto income & the Category B activity-code gap
In Portugal, crypto income other than capital gains and interest is treated as professional income and declared personally under Category B (Recibos Verdes). The snag: tax authorities still haven’t assigned specific activity codes for crypto professions. This ambiguity created friction for filers and led to audits in some cases.

2) What audits looked like—and what worked
Some clients received Divergência notices after declaring crypto activity income and were asked to provide screenshots of transactions within 15 business days—without clear guidance on which screenshots. Our approach was to send a guided letter explaining exactly what was declared and clarifying discrepancies; after some back-and-forth, the authorities accepted the declarations without further scrutiny of the screenshots.

3) Year-end checklist (finish 2024 on the right note)

• Create an overview of taxable transactions. Identify crypto sold for fiat, purchases made with crypto debit cards, and goods/services paid with crypto.

• Use crypto tax software. Many tools offer free features to consolidate cross-chain data, filter crypto→fiat transactions, and track purchase dates and values of disposed assets.

• Review your e-Fatura. Check deductions in the portal and confirm categories; the confirmation deadline is usually end of February. Guides and the official portal are here: https://faturas.portaldasfinancas.gov.pt/ and https://www.cryptotaxesportugal.com/post/e-fatura-explained.

4) What’s next: IRS 2024 timeline
The IRS 2024 return must be filed between April and June 2025. We’ll keep sharing best practices as rules and tooling evolve.