Equities – rates, eligibility, availability of relief etc. – Portugal – CBL

14.03.2024

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

Yes

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 standard tax rate (25% or 28% rate)   

Yes

Yes

Yes

Portuguese residents eligible for tax exemption or a 25% or 28% standard rate

Yes

Yes

No

Portuguese non-residents not eligible for tax exemption but applying for a 25% or 28% standard tax 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, except for EU/EEA pension funds.

A partial standard refund is available for beneficial owners who are residents of a DTT country and did not obtain the treaty rate at source or via the quick refund (the “treaty standard refund”) or for those eligible to the standard rates (28% or 25%).