{"id":91122,"date":"2024-11-06T21:28:38","date_gmt":"2024-11-06T21:28:38","guid":{"rendered":"https:\/\/adamfayed.com\/?p=91122"},"modified":"2024-11-06T21:28:40","modified_gmt":"2024-11-06T21:28:40","slug":"portugal-inheritance-tax-rate-rules-in-2024","status":"publish","type":"post","link":"https:\/\/adamfayed.com\/it\/expats\/expat-taxes\/portugal-inheritance-tax-rate-rules-in-2024\/","title":{"rendered":"Portugal Inheritance Tax Rate, Rules in 2024"},"content":{"rendered":"

Portugal does not charge a conventional inheritance tax since it was repealed in 2004, according to the country\u2019s Tax and Customs Authority<\/a>.<\/p>\n\n\n\n

Instead, we\u2019ll discuss the so-called Imposto do Selo or stamp duty that essentially governs Portugal inheritance tax for certain beneficiaries.<\/p>\n\n\n\n

Any mention of Portuguese inheritance tax refers to the said stamp duty.<\/p>\n\n\n\n

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Questo vale anche per chi \u00e8 alla ricerca di alternative o di un secondo parere.<\/p>\n\n\n\n

Alcuni fatti potrebbero cambiare rispetto al momento della stesura del presente documento e nulla di quanto qui scritto costituisce una consulenza fiscale formale.<\/p>\n\n\n\n

Per una guida aggiornata, contattatemi.<\/p>\n\n\n\n

Inheritance Tax Meaning<\/h2>\n\n\n\n

When someone inherits property or assets from a deceased person’s estate, they are usually subject to such tax.<\/p>\n\n\n\n

It\u2019s also known as a legacy or succession tax, even death tax.<\/p>\n\n\n\n

Portugal Inheritance Tax Explained<\/h2>\n\n\n\n

<\/p>\n\n\n\n

Does Portugal have inheritance tax?<\/h3>\n\n\n\n

Not an inheritance tax, per se, but a stamp duty levied at a 10% flat rate on the value of inherited assets that are in the country.<\/p>\n\n\n\n

Do you have to pay inheritance tax in Portugal?<\/h3>\n\n\n\n

Unless you fall under qualified heirs who are exempt from the stamp duty, you\u2019ll be required to settle the succession tax in Portugal.<\/p>\n\n\n\n

How much is inheritance tax in Portugal?<\/h3>\n\n\n\n

Portugal inheritance tax rate is determined using the entire worth of the assets that the heirs have received.<\/p>\n\n\n\n

The asset types and the relationship between the deceased and the beneficiaries will determine the amount of stamp duty that must be paid in Portugal.<\/p>\n\n\n\n

\"Portugal<\/figure>\n\n\n\n

While the actual inheritance tax threshold in Portugal is 10%, certain heirs and types of assets are exempt from this.<\/p>\n\n\n\n

Property tax or capital gains tax may also be owed if you sell a portion of your estate.<\/p>\n\n\n\n

Portugal typically levies a flat 28% tax on capital gains, according to PwC<\/a>. Only half of the profits are subject to taxes on shares of small and micro businesses that are not listed on the stock exchange.<\/p>\n\n\n\n

 Portugal levies a flat 28% CGT on the whole gain for non-residents and the same rate for residents, who only pay tax on half of the gain.<\/p>\n\n\n\n

As of 2023, gains from assets held for less than a year plus other income are taxed from 13.25% to 48% when taxable income aggregates above 81,199 euros. The flat rate is an option for those under this limit.<\/p>\n\n\n\n

Meanwhile, only half of the gain from the sale of real estate is subject to the progressive tax rates for both residents and non-residents, with some exemptions granted to residents.<\/p>\n\n\n\n

Portugal inheritance tax rules<\/h3>\n\n\n\n

Some types of heirs are not required to pay IHT, particularly close family:<\/p>\n\n\n\n