The period for submitting the Personal Income Tax (IRS) declaration for the year 2023 began on April 1 and ends on June 30, 2024.
All residents in Portugal are subject to taxation on all income earned both in Portugal and abroad.
Non-Habitual Residents must also declare all income earned both in Portugal and abroad, regardless of whether it is subject to taxation.
Non-residents are taxed only on the income they earn in Portugal.
This is the first year that capital gains from the sale of crypto-assets, such as cryptocurrencies, will be taxed in Portugal in cases where they have been held by taxpayers for less than a year. Crypto assets held for more than one year are exempt from taxation but must be declared if they are sold in 2023.
Additionally, this year introduces the mandatory aggregation of capital gains arising from the sale of assets, such as shares, held for a period of less than a year, for taxpayers with high incomes, specifically those in the highest IRS bracket, i.e., with annual earnings exceeding €78,834.
It is also mandatory to declare the IBAN associated with bank accounts held abroad, namely Revolut or Degiro accounts, regardless of the use made of the account or the existence of balances.
Tax Department
Sofia Quental | Inês Grácio | Flávia Almeida | Catarina Amaral
