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How UCITS ETFs are taxed in Portugal

A quick reference for Portugal-resident investors holding UCITS ETFs — dividend and capital-gains tax, the reduced US withholding rate via tax treaties, allowances, and whether accumulating or distributing is more efficient.

Dividend tax
28%
Capital gains tax
28%
US withholding (treaty)
15%
Wealth tax
No
Tax-free allowance
None
Ireland tax treaty
Yes

Tax notes for Portugal

28% flat on investment income. NHR (Non-Habitual Resident) status can offer significant exemptions for 10 years. Very favourable for new residents.

Accumulating vs distributing: Moderate — accumulating defers tax. NHR status can eliminate dividend tax. Learn more →
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Calculate your exact net income

Upgrade to Pro to model any UCITS ETF in Portugal — withholding, local tax, allowances and your real take-home income.

Related: UCITS withholding tax explained · UCITS vs US ETFs · All countries

Educational information only, not tax advice. Rates change and depend on your circumstances — verify with a qualified adviser.