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