Equities - rates, eligibility, availability of relief etc. - Portugal - securities held in CBF

29.04.2022

Withholding Tax

Standard rate of withholding tax:

35%

Holding requirements / restrictions:

No

Availability of relief

The type of tax relief (full/partial) varies according to the residence and status of the final beneficial owner, as follows:

Eligible beneficial owners

Relief at source

Quick Refund

Standard Refund

Residents of a Double Taxation Treaty (DTT) country

Yes

Yes

No

EU/EEA pension funds

Yes

Yesa

No

Non-resident of Portugal availing themselves the privileges and immunities enshrined in an international agreement or chart (central banks, government agencies and international/supranational organisations recognised by Portuguese law

Yes

Yes

No

Non-residents of Portugal recognised as tax-exempt under Portuguese legislation (including Central banks and government agencies, International/Supranational organisations recognised by Portuguese law)

Yes

Yes

No

Non-resident of Portugal or DTT country applying for a reduced tax rate (25% or 28% rate)    Yes    Yes    

Yes

Yes

No

Portuguese residents eligible for tax exemption

Yes

Yes

No

Portuguese residents applying  for a reduced tax rate (25% or 28% rate)

Yes

Yes

No

a. EU/EEA pension funds can only apply for a partial quick refund

Relief at source of withholding tax is available only if the appropriate documentation is submitted to Clearstream Banking.

A quick refund is available if a relief at source has not been obtained by the eligible beneficial owner; EU/EEA pension funds can only apply for a partial quick refund.

The standard refund process is still being analysed. Further information will be provided at a later stage.