Other tax matters

Stamp Tax

Taxation of crypto assets

Free transfers of crypto assets are subject to Stamp Tax at 10%. This will apply in case of crypto assets deposited in institutions located in Portugal. It will also apply if the crypto assets are not deposited therein but the author has its domicile in Portugal, in the case of inheritance, or if the beneficiary has its domicile in Portugal, in the case of other free transfers.

Commissions and other payments charged by or with the intermediation of crypto assets service providers are subject to Stamp Tax at 4%. This will apply if the provider or the client are domiciled in Portugal, in which case the tax is borne by the client. In the case of a service provider outside Portugal, tax is assessed by the intermediary in Portugal, or by the representative appointed by the service provider, if the cases where there is no intermediary.

Free transfers of monetary assets

Monetary values that are not deposited are subject to tax if the author has its domicile in Portugal, in case of inheritance, or if the beneficiary has its domicile in Portugal, in case of other free transfers. This will result from an amendment to the territory impact rule on free transfers of monetary values.

Aggravated rate for consumer’s credit

There is no provision concerning the maintenance in 2023 of the aggravated rate (by 50%) applicable to the granting of consumer’s credit.

Exemptions for housing credit

Exemptions apply to housing credit, capped at the principal amount, in the following case: (i) amendment to the term resulting in tax due given different rates being applicable; (ii) extension of term; (iii) conclusion of a new housing credit agreement for refinancing of debt. In the latter case the exemption includes guarantees. There is also an exemption for guarantees related with housing credit resulting from a change of financial institution or from the subrogation of the mortgagee's rights and guarantees.

 

“Free transfers of crypto assets deposited in institutions in Portugal are subject to Stamp Tax at the rate of 10%.”

Levies

Audiovisual levy

There is no update on the monthly amounts of the audiovisual levy.

Bank levy

The bank levy is maintained.

Solidarity surcharge for the banking sector 

The solidarity surcharge for the banking sector ("Adicional de Solidariedade Sobre o Setor Bancário") is maintained.

Pharmaceutical industry levy

The extraordinary pharmaceutical industry levy is maintained.

Extraordinary levy on suppliers of medical devices to the national health system

The extraordinary levy on suppliers of medical devices to the national health system is maintained.

Extraordinary levy on the energy sector 

The extraordinary levy on the energy sector (“Contribuição extraordinária sobre o setor energético” or “CESE”) is maintained.

Special levy for the conservation of forest resources

As foreseen in the 2023 State Budget Law, the special levy for the conservation of forest resources was regulated by Decree-Law 88/2022, of 30 December. It is applicable as from 1 January 2023. 

 

Tax compliance

Reporting of crypto assets transactions

There is a new reporting obligation for natural or legal persons, organisations and other entities without legal personality, all providing services of custody and management of crypto assets on behalf of third parties, or managing one or more platforms for the negotiation of crypto assets. They are required to file a standard form with the tax authority, up to the end of January each year, in relation to each taxpayer. The standard form will be used to report the transactions related with crypto assets carried out with their intervention.

Social Security

The communication of the new employees shall be made in the previous 15 days (currently, in the previous 24 hours) before the effectiveness of the labour agreement.

There are exceptional measures applicable during the month of August:

  • Postponement until the last day of August, regardless of being a working day, of the deadline to comply with any obligations related with contributions including the regularization of social security debts, in respect of deadlines ending during said month;

  • The monthly remuneration statement (“DMR-SS”) shall be filed until 25 August;

  • Suspension in August of all deadlines related with audits;  

  • Postponement to the first working day of the following month of all deadlines ending during the month of August related with: infractions procedures; right of hearing or defense in any procedure; reduction, waive or advance payment of penalties; clarifications requested by the social security entities

 

Contact us

Rosa Areias

Rosa Areias

Tax Lead Partner, Membro da Comissão Executiva, PwC Portugal

Tel: +351 225 433 101

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