Last week, new legislation introduced additional reporting requirements for Portuguese tax residents with assets in jurisdictions classified as tax havens.
Starting in the tax returns that must be filed until the end of June 2025, concerning the tax year 2024, taxpayers will be required to declare properties, company shares, bank account balances, and other assets held in these jurisdictions. This marks a significant shift toward a more comprehensive wealth reporting system, bringing Portugal closer to practices in other European countries.
Portugal’s blacklist currently includes 73 jurisdictions—far more than the EU’s list of 11—making these new obligations particularly demanding for affected residents.
At VCA, we provide bespoke and personalized legal advice to help you navigate this new reality.
Tax Department
João Valadas Coriel | Sofia Quental | Inês Grácio | Catarina Amaral
