{"id":53896,"date":"2025-12-18T11:33:42","date_gmt":"2025-12-18T11:33:42","guid":{"rendered":"https:\/\/my.legal500.com\/developments\/?post_type=legal_developments&#038;p=53896"},"modified":"2025-12-18T11:33:48","modified_gmt":"2025-12-18T11:33:48","slug":"update-to-the-portuguese-list-of-tax-havens","status":"publish","type":"legal_developments","link":"https:\/\/my.legal500.com\/developments\/thought-leadership\/update-to-the-portuguese-list-of-tax-havens\/","title":{"rendered":"Update to the Portuguese list of tax havens"},"content":{"rendered":"<p><strong>08\/09\/2025<\/strong><\/p>\n<p>Ministerial Order no. 292\/2025, of 5 September, has amended Ministerial Order no. 150\/2004, of 13 February, excluding the following jurisdictions from Portugal\u2019s list of countries, territories, and regions with clearly more favourable tax regimes:<\/p>\n<ul>\n<li>Hong Kong Special Administrative Region<\/li>\n<li>Principality of Liechtenstein<\/li>\n<li>Oriental Republic of Uruguay<\/li>\n<\/ul>\n<p>The decision results from formal requests submitted by the Governments of the respective jurisdictions under Article 63.\u00ba-D(3) of the Portuguese General Tax Law, which received a favourable opinion from the Portuguese Tax Authority. It should also be noted that these jurisdictions are not included in the European Union list of non-cooperative jurisdictions for tax purposes.<\/p>\n<p><strong>Effective as from 1 January 2026.<\/strong><\/p>\n<h2><strong>Key practical implications<\/strong><\/h2>\n<p><strong>Personal Income Tax \u2013 taxation of individuals<\/strong><\/p>\n<ul>\n<li>Capital income (interest, dividends) and certain capital gains will no longer be subject to aggravated tax rates when sourced from these jurisdictions.<\/li>\n<li>Individuals qualifying for the Tax Incentive for Scientific Research and Innovation regime (TISRI or NHR 2.0) may now benefit from exemption on income sourced in these jurisdictions.<\/li>\n<\/ul>\n<p><strong>Corporate Income Tax \u2013 taxation of corporate entities<\/strong><\/p>\n<ul>\n<li>The automatic non-deductibility of expenses and the aggravated autonomous taxation at 35% on payments to entities located in these jurisdictions will no longer apply.<\/li>\n<li>Dividends and capital gains from shareholdings in entities resident in these jurisdictions may benefit from the participation exemption regime (Article 51.\u00ba Corporate Income Tax Code).<\/li>\n<\/ul>\n<p><strong>Property taxes<\/strong><\/p>\n<p>Real estate held by entities located in these jurisdictions will no longer be subject to the increased municipal property tax rate (7.5%) or to additional restrictions under municipal property transfer tax.<\/p>\n<p><strong>Legal certainty and international alignment<\/strong><\/p>\n<p>This amendment brings the Portuguese list closer to the EU list of non-cooperative jurisdictions, enhancing legal certainty and reducing fiscal and reputational barriers for investments involving Hong Kong, Liechtenstein, and Uruguay.<\/p>\n<p>Despite this update,\u00a0<u>77 jurisdictions remain listed<\/u>.<\/p>\n<p><a href=\"https:\/\/belim.pt\/en\/news-articles\/news\/update-to-the-portuguese-list-of-tax-havens\/\">https:\/\/belim.pt\/en\/news-articles\/news\/update-to-the-portuguese-list-of-tax-havens\/<\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-53896","legal_developments","type-legal_developments","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/legal_developments\/53896","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/legal_developments"}],"about":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/types\/legal_developments"}],"wp:attachment":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/media?parent=53896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}