Taxes
Portugal — Tax: Capital Gains
Portuguese residents pay a 28% autonomous rate on gains from shares and bonds, with an option to aggregate them with other income; crypto-asset income is covered by Law 24-D/2022.
VerifiedGovernment / official sourceAutoridade Tributária e Aduaneira — Taxation of financial products under IRSLast reviewed: 2026-10-23
Key facts
- Gains from selling shares are taxed at a special autonomous rate of 28%, declared in annex G of Model 3.
- Aggregation with other income is mandatory when the asset was held under 365 days and taxable income including the gain is EUR 78,837 or more; otherwise residents may opt to aggregate.
- Gains from selling or redeeming bonds are also taxed at 28% unless the holder opts to aggregate.
- Capital gains are the sale value minus acquisition cost plus acquisition and sale costs, with monetary correction coefficients for equity held more than 24 months.
- Dividends paid to residents are subject to definitive withholding of 28% (19.6% in the Azores); residents may opt to aggregate, in which case only 50% of dividends is taxed.
- Crypto-asset income was brought into the IRS Code by Law 24-D/2022; loss of Portuguese residence is treated as a disposal of crypto-assets, and crypto capital income such as staking is taxed at 28% with an option to aggregate.
Common mistakes
- Assuming the 28% rate is final in every case: short-held assets and high-income taxpayers face mandatory aggregation.