Market Taxation Guide - Portugal (securities held in BNP Paribas Securities Services)

16.03.2020

This Market Taxation Guide (Portugal) provides the following details:

  • Reference information about all taxes applied at source, through Clearstream Banking1 and its local depositories, to securities deposited in Clearstream Banking; and
  • Instructions for obtaining relief at source or a refund of withholding tax, where these are available, through Clearstream Banking.

New and improved tax information and procedures that become available will be included on an ongoing basis.

Important note:

This Market Taxation Guide (including any attachments and other links) is for informational purposes only and is not intended and should not be considered to be legal advice on any subject matter. Readers of this Market Taxation Guide, whether customers or otherwise, should not act or refrain from acting on the basis of any information included in this Market Taxation Guide without seeking appropriate legal or other professional advice.

Withholding tax

Debt securities subject to
Law 83/2013
Holding restrictionWithholding tax rateRelief at sourceQuick
refund
Standard
refund

No

35%

Non-residents of Portugal eligible for tax exemption

Yes

Yes

No

Central banks and government agencies

Yes

Yes

No

International/Supranational organisations recognised by Portuguese law

Yes

Yes

No

Portuguese residents eligible for tax exemption

Yes

Yes

No

Portuguese residents not eligible for tax exemption but applying for reduced tax rate

Yes

Yes

No

EquitiesHolding restrictionWithholding tax rateRelief at sourceQuick
refund
Standard
refund

No

35%

Residents of a Double Taxation Treaty (DTT) country

Yes

Yes

Yes

EU/EEA pension funds

Yes

No

No

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

Yes

Yes

No

Portuguese residents eligible for tax exemption

Yes

Yes

No

Note: For details regarding debt securities subject to DL 193/2005 refer to Debt Securities subject to DL 193/2005 - Portugal

Capital gains tax

There is no capital gains tax withheld through Clearstream Banking on securities held in Clearstream Banking. Capital gains tax may however be payable on specific gains. Clearstream Banking does not assist in this regard. Please consult your tax advisor for further information.

Stamp Duty

There is no stamp duty withheld through Clearstream Banking on securities held in Clearstream Banking. Stamp duty may however be payable on specific transactions. Clearstream Banking does not assist in this regard. Please consult your tax advisor for further information.

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1. "Clearstream Banking" refers to Clearstream Banking AG