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Generic Tax Name Stamp duty
Tax name in the national language Imposto do selo
Tax name in English Stamp duty
Member State PT-Portugal
Tax in force since 2000/03/01
If abolished, date on which the tax ceases to apply
Business version date 2015/01/01
Version date 2015/02/17
This file was last updated on

Type of tax
Direct taxes Personal income tax
Corporate income tax
Other

Indirect taxes VAT
Excise duty (EU harmonised)
Alcoholic beverages
Energy products and electricity
Manufactured tobacco
Other

Social security contribution Employers
Employees
Other
 
Legal base

Stamp Duty Code and the General Table of Stamp Duty Rates, enacted by Law 150/99 of 11 September 1999 and republished by Decree Law 287/2003 of 12 November 2003, as amended; Tax Incentives Statute (EBF), enacted by Decree Law 215/89 of 1 July 1989, as amended; Law 85/98, of 16 December 1998; Law 19/2003, of 20 June 2003; Law 66-B/2012 of 31 December.

 
Who sets
The tax rate is set by




The tax base is set by




The reliefs are set by




Comments
 
Beneficiary





Comments
 
Geographical Scope

Whole country.

 
Taxpayers
  • The persons who are involved in the acts, deeds and agreements or who issue or use documents, books, securities or papers subject to stamp duty, such as registrars, notaries, credit and other financial institutions, insurance companies, etc.
  • The heirs, legatees, donees or other transferees in a gratuitous transfer of property situated or deemed to be situated in Portugal
 
Tax object and basis of assessment

Any acts, deeds, agreements, documents, securities, books, papers and facts listed in the Stamp duty general table of rates, not subject to (or exempt from) VAT, including gratuitous transfers of property.

 

Basis of assessment:

Varies according to the tax object.

 
Deductions, Allowances, Credits, Exemptions

Main exemptions:

  • The spouse, descendants and ascendants who are transferees in a gratuitous transfer of property;
  • The central government, the autonomous regions, the local authorities as well as their associations and federations and any departments, organizations or agencies thereof, even if they have legal personality;
  • Social Security institutions;
  • Charities (IPSS) and entities of public interest in respect of properties directly destined for their purposes;
  • Premiums on reinsurance, subject to the conditions established by the law;
  • Premiums and commissions on life insurance policies, subject to the conditions established by the law;
  • Guarantees related to certain stock market transactions, subject to the conditions established by the law;
  • Interest and commissions charged to, guarantees given to, as well as use of credit facilities given by financial institutions to venture capital funds, credit and other financial institutions, subject to the conditions established by the law;
  • Garantees to the Stateconcerning the management of public debt, destined to cover its exposition to credit risk;
  • Short-term loans (up to one year) granted by a venture capital company (SCR) to its target companies exclusively to cover shortages of funds, including relating interest, subject to the conditions established by the law;
  • Short-term loans (up to one year) granted by (or to) a holding company (SGPS) to (or by) participated companies exclusively to cover shortages of funds, including relating interest, subject to the conditions established by the law;
  • Short-term loans (up to one year) granted to directly participated companies exclusively to cover shortages of funds, including relating interest, if the participation is at least 10% of the borrower's capital and is held for at least one year, subject to the conditions established by the law;
  • Loans for a term of at least one year granted to a company by its capital holders, including relating interest, subject to the conditions established by the law;
  • Repo agreements on securities or equivalent rights;
  • Interest charged in respect of loans used for purchasing or building a property destined for permanent residence, subject to the conditions established by the law;
  • Loans granted through a ‘Wage Savings Account' (conta poupança ordenado), up to the amount of the monthly wage;
  • Any acts, deeds, agreements and transactions made by or in favour of EU institutions or the European Investment Bank;
  • Bingo and games organized by charities and entities of public interest, subject to the conditions established by the law;
  • Cooperatives in respect of books, documents and papers used as well as in respect of acts and events defined by the Law 85/98, of 16 December 1998;
  • Political parties, under the conditions established by the Law 19/2003, of 20 June 2003.
 
Rate(s) Structure

Stamp duty is levied at a proportional or a lump-sump rate, including the following:

  • Purchase of immovable property: 0.8 % - in addition to the transfer tax (IMT)
  • Acquisition by gift of immovable property: 10.8 %
  • Other gratuitous acquisition of movable or immovable property: 10%
  • Bank cheques: € 0.05 each
  • Lease or sublease of immovable property: 10% on rent
  • Issuance of guarantees, sureties, pledges and mortgages:

a) With a term of less than 1 year: 0.04 % (per month)

b) With a term from at least 1 year and up to 5 years: 0.5 %

c) With a term of at least 5 years: 0.6 %

 

  • Bets in games not subject to gambling tax: 25%
  • Premiums from bingo, raffles, lotto: bingo - 25%; others - 35%. 
  • State Social Games (Euromillions, National Lottery, Instant Lottery, Totobola, Totogolo, Totoloto and Joker): 20% for premiums above €5,000
  • Use of any credit facilities, including from loans or other credit arrangements as well as the cession and factoring of debt claims:

a) With a term of less than 1 year: 0.04 % (per month)

b) With a term from at least 1 year and up to 5 years: 0.5 %

c) With a term of at least 5 years: 0.6 %

d) In connection with the use of current account credit facilities or overdraft: 0.04 % on the monthly average used credit

 

  • Use of credit facilities, relative to consumption credit:

    a) With a term of less than 1 year: 0.07% (per month);

    b) With a term of at least 1 year and up to 5 years: 0.9%;

    c) With a term of at least 5 years: 1%;

    d) In connection with the use of current account credit facilities or overdraft: 0.07% on the monthly average used credit.

 

  • Transactions made by or intermediated by financial institutions:

a) Interest on bank loans, discount of bills of exchange and Treasury notes as well as on credit accounts: 4 %

b) Premiums and interest on bills of exchange drawn, or bill of exchange receivable on a third party's account, as well as bank transfers: 4%

c) Commissions on the issuance of guarantees: 3 %

d) Any other commissions, charges or fees for financial services: 4 %

 

  • Precatory letter or warrant for redraw and delivery of money or values: 0.5%;
  • Repo agreement on contract value: 0.5%.
  • Insurance premiums:

a) Surety: 3 %

b) Personal accident, health, credit risks, agriculture and animal husbandry risks: 5 %

c) Transport of goods risks: 5 %

d) Ships and aircrafts: 5 %

e) Other risks: 9 %

 

  • Commissions on insurance policies: 2 %
  • Bills of exchange: 0.5 %
  • Use of immovable property with value, according to the real estate code rules, above €1,000,000:

a) for residential purposes 1%

b) for residents in a tax haven 7.5%

 

 
Tax due date

In general, on the 20th day of the month following the day in which the taxable event took place. In respect of gratuitous transfers, on the last day of the second month following the notification, except if the tax liability exceeds € 1,000, in which case the tax is payable in a maximum number of 10 equal instalments, with a minimum value of € 200 each.

 
Tax collector

The liability is assessed - and the tax is collected - on the basis of an official form which must be completed and submitted by the taxpayer to the Tax and Customs Authority (AT).

 
Special features
 
Economic function







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Environmental taxes



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Tax revenue
ESA95 code d214b + d59fb

Year
Annual tax revenue (millions)
Currency
Tax revenue as % of GDP
Tax revenue as % of total tax revenue
2012 1,407.81 EUR 0.84
2011 1,526.40 EUR 0.87
2010 1,584.15 EUR 0.88
2009 1,707.05 EUR 0.97
2008 1,832.07 EUR 1.02
2007 1,801.65 EUR 1.03
2006 1,713.40 EUR 1.03
2005 1,527.30 EUR 0.96
2004 1,441.10 EUR 0.95
2003 1,374.30 EUR 0.94
2002 1,242.92 EUR 0.87
2001 1,166.50 EUR 0.86
2000 1,056.80 EUR 0.82

Comments