Taxation of Financial Products

Certificates

RESIDENT

Certificates can generate two types of income:

capital income: - income from certificates that guarantee the holder the right to receive a minimum amount above the subscription value;

capital gains:- transactions involving certificates that give the holder the right to receive the value of a specific underlying asset.

Income

The income from certificates that guarantee the holder the right to receive a minimum amount above the subscription value is capital income. This income is subject to IRS, and taxed by withholding at source, of a tax of 28% (or 22,4%, if the taxpayer is a resident of the Autonomous Region of the Azores), at the time it is made available.


Where to declare?

• if national - Annex E, Table 4A, Code E20

anexo E, quadro 4A código E20

• if foreign - Annex J, Table 9.2.B, Code G32

anexo J quadro 9 .2.B código G32

Capital gains

Capital gains are the gains obtained from transactions with certificates that guarantee the holder the right to obtain the value of a specific underlying asset.

Capital gains from transactions with certificates are taxed at a rate of 28% (or 22,4%, if the taxpayer is resident in the Autonomous Region of the Azores), without prejudice to the holder’s option to aggregate.

Where to declare?

If national - Annex G, Table 13, Code G53

Anexo G quadro 13 código G53
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