List of published territories Albania$$$Algeria$$$Angola$$$Argentina$$$Armenia$$$Australia$$$Austria$$$Azerbaijan$$$Bahrain$$$Barbados$$$Belarus$$$Belgium$$$Bermuda$$$Bolivia$$$Bosnia and Herzegovina$$$Botswana$$$Brazil$$$Bulgaria$$$Cabo Verde$$$Cambodia$$$Cameroon, Republic of$$$Canada$$$Cayman Islands$$$Chad$$$Chile$$$China, People's Republic of$$$Colombia$$$Congo, Democratic Republic of the$$$Congo, Republic of$$$Costa Rica$$$Croatia$$$Cyprus$$$Czech Republic$$$Denmark$$$Dominican Republic$$$Ecuador$$$Egypt$$$El Salvador$$$Equatorial Guinea$$$Estonia$$$Fiji$$$Finland$$$France$$$Gabon$$$Georgia$$$Germany$$$Ghana$$$Gibraltar$$$Greece$$$Greenland$$$Guatemala$$$Guernsey, Channel Islands$$$Guyana$$$Honduras$$$Hong Kong$$$Hungary$$$Iceland$$$India$$$Indonesia$$$Iraq$$$Ireland$$$Isle of Man$$$Israel$$$Italy$$$Ivory Coast (Côte d'Ivoire)$$$Jamaica$$$Japan$$$Jersey, Channel Islands$$$Jordan$$$Kazakhstan$$$Kenya$$$Korea, Republic of$$$Kosovo$$$Kuwait$$$Kyrgyzstan$$$Lao PDR$$$Latvia$$$Lebanon$$$Libya$$$Liechtenstein$$$Lithuania$$$Luxembourg$$$Macau$$$Macedonia$$$Madagascar$$$Malawi$$$Malaysia$$$Malta$$$Mauritius$$$Mexico$$$Moldova$$$Mongolia$$$Montenegro$$$Morocco$$$Mozambique$$$Myanmar$$$Namibia, Republic of$$$Netherlands$$$New Zealand$$$Nicaragua$$$Nigeria$$$Norway$$$Oman$$$Pakistan$$$Palestinian territories$$$Panama$$$Papua New Guinea$$$Paraguay$$$Peru$$$Philippines$$$Poland$$$Portugal$$$Puerto Rico$$$Qatar$$$Romania$$$Russian Federation$$$Rwanda$$$Saint Lucia$$$Saudi Arabia$$$Senegal$$$Serbia$$$Singapore$$$Slovak Republic$$$Slovenia$$$South Africa$$$Spain$$$Sri Lanka$$$Swaziland$$$Sweden$$$Switzerland$$$Taiwan$$$Tajikistan$$$Tanzania$$$Thailand$$$Timor-Leste$$$Trinidad and Tobago$$$Tunisia$$$Turkey$$$Turkmenistan$$$Turks and Caicos Islands$$$Uganda$$$Ukraine$$$United Arab Emirates$$$United Kingdom$$$United States$$$Uruguay$$$Uzbekistan, Republic of$$$Venezuela$$$Vietnam$$$Zambia$$$Zimbabwe JDCN-89JRLJ$$$JDCN-9L9ER3$$$JDCN-89HREB$$$JDCN-89HRGN$$$JDCN-89HRHB$$$JDCN-89HRJM$$$JDCN-89HRKA$$$JDCN-89HRKX$$$JDCN-89HRLL$$$JDCN-89HRM9$$$JDCN-89HRMW$$$JDCN-89HRNK$$$JDCN-89HRP8$$$JDCN-89HRPV$$$JDCN-89HRQJ$$$JDCN-89HRR7$$$JDCN-89HRRU$$$JDCN-89HRSH$$$JDCN-89HRV5$$$JDCN-89HRT6$$$JDCN-89HRTT$$$JDCN-89HRUG$$$JDCN-89HRVS$$$JDCN-89HRWF$$$JDCN-89HRYE$$$JDCN-89HRZ3$$$JDCN-89HRZQ$$$JDCN-89HS2D$$$JDCN-89HS32$$$JDCN-89HS3P$$$JDCN-89PKJ7$$$JDCN-89HS5N$$$JDCN-89HS6B$$$JDCN-89HS6Y$$$JDCN-89HS7M$$$JDCN-89HS8A$$$JDCN-89HS8X$$$JDCN-89HS9L$$$JDCN-89HSA9$$$JDCN-89HSAW$$$JDCN-89HSBK$$$JDCN-89HSC8$$$JDCN-89HSCV$$$JDCN-89HSDJ$$$JDCN-89HSE7$$$JDCN-89HSEU$$$JDCN-89HSFH$$$JDCN-89HSG6$$$JDCN-89HSGT$$$JDCN-9LFTHK$$$JDCN-89HSHG$$$JDCN-89HRX4$$$JDCN-8UENHH$$$JDCN-89HSJ5$$$JDCN-89HSJS$$$JDCN-89HSKF$$$JDCN-8HLNAZ$$$JDCN-89HSL4$$$JDCN-89HSLR$$$JDCN-89HSME$$$JDCN-89HSN3$$$JDCN-89HSNQ$$$JDCN-89HSPD$$$JDCN-89HSQ2$$$JDCN-89HSQP$$$JDCN-89HSRC$$$JDCN-89HSRZ$$$JDCN-89HRXR$$$JDCN-89HSSN$$$JDCN-89HSTB$$$JDCN-89HSTY$$$JDCN-89HSUM$$$JDCN-AN9ENE$$$JDCN-89HSVA$$$JDCN-89HSVX$$$JDCN-8EGQEM$$$JDCN-89HSWL$$$JDCN-89HSX9$$$JDCN-89HSXW$$$JDCN-89HSYK$$$JDCN-89HSZ8$$$JDCN-89HSZV$$$JDCN-89HT2J$$$JDCN-89HT38$$$JDCN-89HT3V$$$JDCN-89HT4J$$$UKWE-8CEb2F$$$JDCN-89HT5U$$$JDCN-89HT6H$$$JDCN-89HT77$$$JDCN-89HT7U$$$JDCN-89HT8H$$$JDCN-89HT96$$$JDCN-8HLRL5$$$JDCN-89HT9T$$$JDCN-97XLRC$$$JDCN-89HTAG$$$JDCN-89HTB5$$$JDCN-89HTCF$$$JDCN-89HTD4$$$JDCN-89HTDR$$$JDCN-89HTEE$$$JDCN-89HTF3$$$JDCN-89HTFR$$$JDCN-BECD9B$$$JDCN-89HTGE$$$JDCN-89HTH3$$$JDCN-89HTHQ$$$JDCN-89HTJD$$$JDCN-89HTK2$$$JDCN-89HTKP$$$JDCN-89HTLC$$$JDCN-89HTLZ$$$JDCN-89HTMN$$$JDCN-89HTNB$$$JDCN-89HTNY$$$JDCN-8UPFL5$$$JDCN-89HTW7$$$JDCN-89HTPM$$$JDCN-89HTQA$$$JDCN-89HTQX$$$JDCN-89HTRL$$$JDCN-89HTS9$$$JDCN-89HTSW$$$JDCN-89HTTK$$$UKWE-8CDMS7$$$JDCN-89HTUV$$$JDCN-89HTWU$$$JDCN-89HTXH$$$JDCN-89HTY6$$$JDCN-89HTZG$$$JDCN-89HU25$$$JDCN-89HU2S$$$JDCN-89HU3F$$$JDCN-8VDJC3$$$JDCN-89HU44$$$JDCN-8V8FQH$$$JDCN-89HU4R$$$JDCN-89HU5E$$$JDCN-B82GFQ$$$JDCN-89HU63$$$JDCN-89HU6Q$$$JDCN-89HU7D$$$JDCN-89HU82$$$JDCN-89HU8P$$$JDCN-89HU9C$$$JDCN-89HU9Z$$$JDCN-89HUAN$$$JDCN-89HUBB$$$JDCN-9LFTHP$$$JDCN-89HUBY Herzegovina$$$Cape Verde$$$Republic of Cameroon$$$People's Republic of China$$$Peoples Republic of China$$$Democratic Republic of the Congo$$$DRC$$$Republic of Congo$$$Channel Islands$$$Channel Islands$$$South Korea$$$Republic of Korea$$$Laos$$$Republic of Lebanon$$$The Netherlands$$$PNG$$$Russia$$$St. Lucia$$$St Lucia$$$Slovakia$$$SA$$$Tobago$$$Republic of Turkey$$$Turks$$$Caicos$$$UAE$$$Great Britain$$$UK$$$Britain$$$Whales$$$Northern Ireland$$$England$$$US$$$U.S.$$$U.S.A.$$$USA$$$Republic of Uruguay$$$Republic of Uzbekistan$$$Republic of Zambia

Portugal Corporate - Other taxes

Choose a topic
Portugal Map
See full territory list
Close topic

Value-added tax (VAT)

VAT rates

There are three VAT rates: the standard rate of 23% (22% in the Autonomous Region of Madeira; 18% in the Autonomous Region of the Azores), the intermediate rate of 13% (12% in Madeira; 9% in the Azores), and the reduced rate of 6% (5% in Madeira; 4% in the Azores).

The intermediate rate applies to supplies of some foodstuffs and to pre-cooked meals, in ready-to-eat and take away or home delivery regimes, and to food and beverage services rendered, excluding alcoholic beverages, soft drinks, juices, nectars, and carbonated water, or added carbon dioxide or other substances.

The reduced rate applies to admissions to shows of singing, dancing, music, theatre, cinemas, circus, and bullfighting. The reduced rate is also applicable to the supplies of some basic foodstuffs, periodical publications, books (including e-books), pharmaceutical products, hotel accommodation, agricultural goods, and passenger transport.

Exports and intra-EU supplies of goods are zero-rated.

Supplies of goods

Supplies of goods are subject to VAT in Portugal if the goods are located in Portugal at the moment their transport or dispatch to the customer begins. If the goods are located in Portugal and there is no transport or dispatch, then supplies of the goods are subject to VAT at the moment they are put at the disposal of the customer.

Supplies of services

Supplies of services are subject to VAT in Portugal whenever: (i) acquired by taxable persons that have their business, a fixed establishment, domicile, or residence in Portugal to which the services are provided (B2B rule) or (ii) supplied to non-taxable persons if the provider has established its business, a fixed establishment, domicile, or residence in Portugal from where these services are provided (B2C rule).

Regardless of the place where the service provider and the acquirer are established, and of the acquirer being a taxable person, the supply of the following services is subject to VAT in Portugal if physically carried out in Portugal:

  • Services connected with immovable property in Portugal.
  • Passenger transport for the distances covered in Portugal.
  • Admission to cultural, artistic, scientific, sporting, educational, entertainment, or similar events in Portugal.
  • Restaurant and catering services in Portugal.
  • Short-term hiring of a means of transport (up to 30 days, for boats up to 90 days) if the means of transport are put at the disposal of the customer in Portugal.

The supply of the following services is subject to VAT in Portugal if physically carried out in Portugal and if the acquirer is a non-taxable person:

  • Transport of goods, other than intra-Community transport of goods, for the distances covered in Portugal.
  • Intra-Community transport of goods if the place of departure is Portugal.
  • Valuations of and work on movable property.
  • Services and ancillary services relating to cultural, artistic, sporting, scientific, educational, entertainment, or similar activities, such as fairs and exhibitions, including the supply of services of the organisers.
  • Hiring of a means of transport, other than short-term hiring, when the acquirer is established, has one’s permanent address, or usually resides in Portugal.

Telecommunications, broadcasting, television, and electronic services supplied to non-taxable persons are taxed in Portugal when the customer, a non-taxable person, is established, has one’s permanent address, or usually resides herein. However, such services shall be taxed at the place where the service provider is established, provided that:

  • the total value of such services does not exceed EUR 10,000, with reference to the previous year
  • the acquirer is not a VATable person, and
  • the service provider has its head office, PE, or domicile only in that member state.

Customs duties

Customs duties are regulated by the Community Customs Code. Therefore, the rules foreseen for the import and export of goods in Portugal are similar to the rules applicable in other EU member states.

The customs duties' rates applied in Portugal vary according to the origin of the goods. There are several origin agreements that exempt from customs duties the importation of goods from certain countries or that determine reduced rates.

Excise duties

There are different types of excise duties, such as petroleum and energy products tax, alcohol and alcoholic beverages tax, tobacco tax, and vehicle tax.

The tax applicable to petroleum and energetic products depends on the goods supplied, and it varies for unleaded petrol between EUR 359 and EUR 650 per 1,000 kg.

Due to the Green Tax Reform, there is a CO2 adding factor to excise duties on petroleum and energetic products, which, in 2019, is 2.271654 for gasoline and 2.474862 for diesel. The adding factor is extensive to petroleum, coal, natural gas, coke, liquefied petroleum gas (LPG), and fuel oil.

The excise duty applies on the supply of natural gas when used for carbonate fuel final consumers at the rate of EUR 0.307/GJ and when used as propellant at the rate of EUR 1.15/GJ.

The tax applicable to alcohol and alcoholic beverages also depends on the type of good supplied, varying between EUR 8.34 per hectolitre for a certain type of beer and EUR 1,386.93 per hectolitre for spirits.

Non-alcoholic beverages with added sugar are also liable to excise duties, depending on the added sugar amounts:

  • EUR 1/hl for drinks with a sugar content lower than 25 g/l.
  • EUR 6/hl for drinks with a sugar content of at least 25 g/l and less than 50 g/l.
  • EUR 8/hl for drinks with a sugar content of at least 50 g/l and less than 80 g/l.
  • EUR 20/hl for drinks with a sugar content of 80 g/l or higher.

The tax applicable to tobacco (ad valorem) also varies in accordance with the type of product supplied, namely it varies between 15% of the sale price for cigarettes, 15% for fine-cut tobacco for rolling, 25% for cigars and cigarillos, and 50% of the sale price for tobacco used in a water pipe.

The tax applicable to vehicles varies in accordance with the type of vehicle, the fuel used, CO2 emissions, and the cylinder of the vehicle. The higher taxation is applicable for cars used for the transport of passengers using petrol as fuel and the lower taxation is applicable for motorcycles.

In what concerns the environment component, CO2 emissions have been measured based on the New European Driving Cycle (NEDC) method. This method was replaced by the Worldwide Harmonised Light Vehicle Test Procedure (WLTP), resulting in a general increase of the CO2 emissions and, as a consequence, of the taxes due. Aiming at mitigating this effect, a transitional provision to be applied in 2019 foresees a percentage reduction of the CO2 emissions, computed based on the WLTP.

An excise duty on consumption of electricity is due by producers, traders, self-producers, and consumers that buy electricity in organised markets. The tax applicable to electricity varies between EUR 1/kw to EUR 1.10/kw.

Property tax (Imposto Municipal sobre Imóveis or IMI)

IMI is a municipal property tax computed on the tax registration value (TRV) of urban and rural properties located in Portuguese territory. For urban properties, the TRV is determined by means of a valuation, based on the type of property, calculated by reference to a formula based on objective criteria, such as the construction cost per square metre, area, age, construction quality, and comfort indexes. IMI is due by the real estate owner, the usufructuary, or the holder of the surface right of a real estate unit with reference to 31 December of the year that it concerns.

IMI is levied at the following rates, in addition to corporate or individual tax assessed on actual income generated by real estate:

Real estate type IMI (%)
Urban real estate 0.3 to 0.45
Rural real estate 0.8
Real estate owned by residents in a black-listed jurisdiction (except individuals) 7.5

The list of countries, territories, and regions that provide a more favourable tax regime (‘black-listed jurisdictions’) is presented below:

American Samoa Dominica (1) Marianas San Marino
Andorra (1) Falkland Islands or Malvinas Marshall Islands Seychelles
Anguilla (1) Fiji Islands Mauritius Solomon Islands
Antigua and Barbuda (1) French Polynesia Monaco Sultanate of Oman
Aruba Gambia Montserrat Svalbard
Ascension Island Gibraltar (1) Nauru Swaziland
Bahamas Grenada Netherlands Antilles The Maldives
Bahrain Guam Niue Island Tokelau
Barbados Guyana Norfolk Island Trinidad and Tobago
Belize (1) Honduras Pacific Islands Tristan da Cunha
Bermuda (1) Hong Kong Palau Islands Turks and Caicos (1)
Bolivia Isle of Man (1) Panama Tuvalu
British Virgin Islands (1) Jamaica Pitcairn Island United Arab Emirates
Brunei Jordan Puerto Rico United States Virgin Islands
Cayman Islands (1) Kingdom of Tonga Qatar Uruguay
Channel Islands (1, 2) Kiribati Queshm Island Vanuatu
Christmas Island Kuwait Saint Helena Western Samoa
Cocos (Keeling) Labuan Saint Kitts and Nevis (1) Yemen Arab Republic
Cook Islands Lebanon Saint Lucia (1)  
Costa Rica Liberia (1) Saint Pierre and Miquelon
Djibouti Liechtenstein Saint Vincent and the Grenadines  


  1. The Portuguese authorities have signed tax information exchange agreements (TIEAs) with these jurisdictions (in case of the Channel Islands, only with Guernsey and Jersey). The following TIEAs are in force: Andorra, Bermuda, Cayman Islands, Gibraltar, Isle of Man, Jersey, and Saint Lucia.
  2. Alderney, Brechou, Great Sark, Guernsey, Herm, Jersey, Jethou, Lihou, and Little Sark.

IMI rates are annually increased three times when urban real estate is vacant or in ruins for a period of over one year.

IMI exemptions and reductions

Urban real estate subject to urban rehabilitation

There is an IMI exemption available to urban real estate subject to urban rehabilitation for a three-year period, renewable for an additional five-year period in case of buildings intended for lease for permanent abode or main permanent abode.

This exemption is only available to buildings located in urban rehabilitation areas or buildings built more than 30 years ago.

Historical stores

Historical stores, recognised by the municipalities as establishments of historical, cultural, or social interest and that integrate the national inventory, will be exempt from IMI from the year in which these situations occur.

Real estate part of a tourism complex granted with tourism utility

Real estate that is part of a tourism complex granted with tourism utility benefits from IMI exemption for a period of seven years.

Urban real estate intended for the production of energy from renewable sources

Urban real estate exclusively intended for the production of energy from renewable sources benefits from a 50% reduction of the IMI rate.

Other benefits of environmental nature attributed to real estate

By resolution of the municipal assembly, municipalities may determine a reduction of up to 25% of the IMI rate, applicable to urban real estate with energy efficiency.

Tax incentives for forestry activity

IMI exemption is applicable to rural real estate corresponding to forest areas covered by a forest intervention zone and to rural real estate intended for forestry exploitation under a forest management plan.

Tax regime for investment promotion (RFAI)

Companies with investments that qualify for the RFAI can benefit from an exemption or reduction from IMI for a period of up to ten years regarding real estate acquired and regarded as an eligible investment.

Additional to the IMI (AIMI)

AIMI is due by individuals and corporations, as well as by structures or collective bodies without autonomous legal personality and undivided inheritances, that are owners, usufructuaries, or have the surface right of urban properties located in Portugal.

Urban properties classified as ‘trade, industry, or services’ and ‘others’ are excluded from AIMI.

The taxable basis corresponds to the sum of the TRV of all the urban properties held by each taxpayer, reported as of 1 January of each year.

Properties that benefited from IMI exemption in the previous year are excluded from the taxable basis.

The applicable rates are 0.4% for corporations and 7.5% for urban properties owned by entities in tax havens.

AIMI is assessed by the Portuguese Tax Authority (PTA) in June of each year, with the respective payment made in September.

Construction and housing cooperatives are no longer exempt from AIMI when they are the owners, have the right of surface, or the usufruct, exclusively, of properties intended for social housing or controlled-costs.

On the other hand, it is foreseen the exclusion of taxation of properties that are exclusively intended for the construction of social housing or controlled-costs owned by construction and housing cooperatives or residents' associations.

The properties owned by construction and housing cooperatives, as well as residents' associations, will be excluded from taxation.

Properties owned by condominiums regarding which their tax registration value does not exceed 20 times the annual value of the Social Support Index (EUR 120,092) will also be excluded from taxation.

CIT credit

Taxpayers have the option to deduct the AIMI paid, limited to the fraction of the tax corresponding to the income generated by properties subject to AIMI, in the scope of lease or accommodation activities. This deduction option (deduction to the CIT fraction) jeopardises the deduction of AIMI in the determination of CITable income.

Property transfer tax (Imposto Municipal sobre as Transmissões Onerosas de Imóveis or IMT)

IMT is a municipal tax levied on the transfer for consideration of real estate located in the Portuguese territory. The tax is due by the acquirer at the rates shown below, and the taxable basis is the same as for IMI or the price agreed upon by the contracting parties, whichever is higher. Note that the acquisition of more than 75% of the share capital of a company incorporated as a limited liability company (Sociedade por quotas), which owns real estate located in Portugal, is also subject to IMT.

Real estate type IMT (%)
Rural real estate 5.0
Urban real estate (for residential purposes) up to 6.0
Other urban real estate and other acquisitions for consideration 6.5
The acquirer is a tax resident in a black-listed jurisdiction (except individuals) 10.0

IMT exemptions

  • Acquisition of properties for resale by real estate trading companies.
  • Acquisition of properties intended for urban rehabilitation.
  • Acquisition of property or autonomous fraction of urban property intended to install a tourism complex to which has been attributed tourism utility.
  • Acquisition of real estate by Real Estate Investment Funds for Residential Letting (REIFRLs).
  • Restructuring operations or cooperation arrangements.
  • Acquisition of buildings individually classified as of national/public/municipal interest.
  • Exemption or reduction of the IMT rate, regarding the acquisition of property that constitutes eligible investment under the RFAI.

Stamp duty

Stamp duty is payable on a wide variety of transactions and documents, at rates that may be set in specific amounts or on a percentage basis. Important examples include the following:

Item Stamp duty (%)
Loans (on the principal) (1):  
With determined term, over one year 0.5 to 0.6
Current account/overdraft/credit with undetermined term or determined term under one year 0.04 per month or fraction
Undetermined/five or more years 0.6
Over one year 0.5
Under one year 0.04 per month or fraction
Operations of financial institutions:  
Interest and commissions charged 4
Commission on banking guarantees 3
Commission for insurance brokers 2
Insurance premiums 3 to 9
Real estate transfer for consideration or donation 0.8
Letting or sub-letting (applied on the amount of a month of rent) 10
Donations and inheritances 10
Sale of business as a going concern 5
State’s social gambling, included in the bet price 4.5
State’s social gambling exceeding EUR 5,000 20
Collective Investment Vehicles (CIVs) investing in money market instruments and deposits (quarterly, on net asset value) 0.0025
Other CIVs (quarterly, on net asset value) 0.0125
Repos 0.5


  1. In case of loans to consumers, tax rates are increased by approximately 90%.

Stamp duty exemptions

Some acts are exempt from stamp duty, such as the ones mentioned below (the exemption may depend on certain requirements):

  • Guarantees on stock exchange dealings regarding securities and derivatives.
  • Transactions between financial institutions, when directly related to lending/security operations.
  • Short-term treasury needs (less than one year) granted by venture capital companies to companies in which they hold a participation, as well as granted by any company to companies dominated by them or with a shareholding with voting rights of at least 10% or with a purchase price of at least EUR 5 million, as well as to financing between companies in a dominant or group relationship.
  • Short-term shareholders’ loans (less than one year) in case of direct shareholding of 10% or more, held for one year or more.
  • Shareholders’ loans, including the respective interest, not reimbursed before one year, when provided by shareholders, of at least 10%, of the share capital and as long as the shareholding is maintained for a consecutive period of one year, or since the incorporation of the subsidiary, provided that, in this case, the participation has been maintained during that period.
  • Interest on loans for permanent housing.
  • Free transfer of property to spouse, or de facto spouse, descendants, and ascendants.
  • Mergers or cooperation operations.
  • Warranties provided in favour of the state in the management of its direct public debt, and in favour of the Institute for the Management of Social Security Capitalization Funds, in its own name or on behalf of the funds under its management, for the exclusive purpose of covering its exposure to credit risk.
  • Warranties provided in favour of the state or social security institutions upon the payment of debt by instalments under enforcement procedures or relating to the recovery of tax and social security credits.
  • Under the RFAI, companies are exempt from stamp duty on the acquisition of real estate property that constitutes relevant investment, according to the terms of this regime.
  • Securities repos or similar rights exchanged in stock markets, as well as repo and fiduciary sales in guarantee, performed by financial institutions and intermediated by central counterparts, are also exempt from stamp duty.
  • Report agreements traded in an exchange stock.

Payroll taxes

There are no payroll taxes other than social security contributions (see below).

Social security contributions

Employers are required to make monthly social security contributions at the standard rate of 23.75% on the monthly gross remuneration of their employees.

Social security contributions are deductible for CIT purposes.

Financial sector contribution

Portuguese headquartered credit institutions, Portuguese subsidiaries of foreign credit institutions, as well as branches in Portugal of foreign credit institutions, including EU residents, are subject to a financial sector contribution, applicable on a taxable base composed as follows:

  • Base I: Liabilities less the amount of the deposits covered by deposit guarantee schemes, such as the Deposit Guarantee Fund, the Mutual Agricultural Credit Guarantee Fund, or other officially recognised deposit guarantee scheme under the EU Directives. For this purpose, liabilities are defined as the set of elements accounted for in the balance sheet representing liabilities towards third parties, irrespective of their form or nature (excluding, amongst others, items accounted for as equity, liabilities for defined benefit retirement plans, provisions, liabilities concerning the revaluation of financial derivatives).
  • Base II: The notional amount of off-balance sheet financial derivatives, excluding hedging derivatives and back-to-back derivatives.

The financial sector contribution is applicable at a maximum of 0.11% on Base I and at 0.00030% on Base II.

Last Reviewed - 01 July 2019

Contacts, News and Downloads
Portugal contacts
Jaime Esteves Title = Jaime Esteves width=55px
Jaime EstevesTax Lead Partner+351 213 599 601
Jorge Figueiredo Title = Jorge Figueiredo width=55px
Jorge FigueiredoPartner, Financial Services / International Tax Structuring+351 213 599 618
Leendert Verschoor Title = Leendert Verschoor width=55px
Leendert VerschoorPartner, Transfer Pricing / Human Resources / International Tax Structuring+351 213 599 631
Maria Torres Title = Maria Torres width=55px
Maria TorresPartner, Mergers & Acquisitions Tax+351 225 433 135
Rosa Areias Title = Rosa Areias width=55px
Rosa AreiasPartner, International Tax Structuring+351 225 433 197
Susana Claro Title = Susana Claro width=55px
Susana ClaroPartner, Indirect Taxes+351 213 599 618
Paulo Ribeiro Title = Paulo Ribeiro width=55px
Paulo RibeiroPartner, Tax Management & Accounting Services+351 213 599 513
Adriao Silva Title = Adriao Silva width=55px
Adriao SilvaDirector, Financial Services+351 213 599 625
Catarina Gonçalves Title = Catarina Gonçalves width=55px
Catarina GonçalvesPartner, International Tax Structuring+351 213 599 659
Susana Caetano Title = Susana Caetano width=55px
Susana CaetanoDirector, Indirect Taxes+351 213 599 610
Ana Reis Title = Ana Reis width=55px
Ana ReisDirector, International Tax Structuring+351 225 433 135
Contacts, News and Downloads
Select territory
Select territory
      Advanced print
      Advance print
      Please login to see favourites territories in Advance print
      Contact us


      Thank you for contacting PwC.
      See full territory list