Cryptocurrency Taxation in Guinea-Bissau

Guinea-Bissau is developing its regulatory and tax framework for cryptocurrencies and digital assets. As of 2026, the country does not have specific cryptocurrency tax legislation, but general tax principles apply to crypto-related transactions.

Legal Status of Cryptocurrencies

Cryptocurrencies are not recognized as legal tender in Guinea-Bissau. The Central Bank of Guinea-Bissau (Banque Centrale de Guinea-Bissau) has issued warnings about the risks of cryptocurrencies but has not banned their use. The regulatory environment is evolving, with discussions about a comprehensive digital asset framework.

Tax Classification

In the absence of specific crypto tax legislation, the Guinea-Bissau tax authorities apply existing tax categories to cryptocurrency transactions:

Taxation of Individuals

For individuals, cryptocurrency gains are generally taxed as capital gains or investment income under the progressive IRPS rates (0–20%). Frequent trading may be treated as business income, subject to the same progressive rates. There is no specific exemption or allowance for crypto losses.

Taxation of Corporations

Corporate crypto gains are taxed at the standard 25% corporate income tax rate. Companies engaged in crypto mining, trading, or DeFi activities must account for these as part of their ordinary business income. VAT may apply to crypto-related services.

Record Keeping and Reporting

Taxpayers engaging in cryptocurrency transactions should maintain detailed records including:

International Reporting

Guinea-Bissau has committed to the OECD's Crypto-Asset Reporting Framework (CARF). Crypto exchanges and service providers operating in Guinea-Bissau may be required to report transactions to the tax authorities. Additionally, the Common Reporting Standard (CRS) applies to financial institutions holding crypto assets.

VAT Implications

The supply of cryptocurrency-related services (exchange, wallet, advisory) is generally subject to VAT at 15%. The exchange of cryptocurrency for fiat currency may be exempt from VAT, but this area remains unclear pending further guidance from the tax authorities.

Penalties for Non-Compliance

Failure to declare cryptocurrency income may result in penalties of up to 100% of the tax due, plus interest at 1% per month. The tax authorities have enhanced their data collection capabilities and may obtain information from exchanges and financial institutions.

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