Question 1

How do you calculate?

Accepted Answer

We sum the gains and losses from all sales of the year (stocks, ETF, bonds, crypto-assets held for less than 365 days, derivatives, and SMEs), apply the exclusions for holding period, and calculate four options: 28% on everything, aggregate the sales, aggregate the dividends and interest, or aggregate everything. We show the cheapest, already deducting the tax paid abroad.

Question 2

What is the exclusion for holding period?

Accepted Answer

Since 2024, for directly held shares, ETFs, foreign funds, and bonds, part of the gain is outside IRS: 10% if held for more than 2 years, 20% from 5 years, and 30% from 8 years. This also applies to losses: a loss on these securities only offsets gains in the part that is not excluded. It also applies to foreign securities. It does not apply to derivatives, CFDs, and warrants.

Question 3

What is mandatory aggregation?

Accepted Answer

If you sell stocks, ETF, or bonds held for less than 365 days and your income, including that gain, reaches the top IRS bracket, that gain must be added to your income. You cannot stick to the 28%.

Question 4

If I aggregate, do I have to aggregate everything?

Accepted Answer

Yes, within the same category: if you aggregate capital gains, all of the year's gains are included; if you aggregate dividends, interest is also included. That's why the simulator compares the four combinations.

Question 5

How are dividends taxed?

Accepted Answer

At 28%, or by brackets if you aggregate. If you aggregate, dividends from companies in Portugal, the EU, or the EEA only count as 50%. For those outside the EU, the tax withheld in the country of origin (15% in the US, with the W-8BEN form) is deducted from the IRS, up to the amount of the Portuguese tax.

Question 6

And Portuguese funds?

Accepted Answer

Upon redemption of units in Portuguese funds, the bank withholds 28% and you don't need to declare it. This gain is not added to other sales, and a loss in these funds does not offset gains.

Question 7

Do accumulation ETFs pay taxes every year?

Accepted Answer

No. In an accumulation ETF, you only pay when you sell. In a distribution ETF, the income you receive is taxed as dividends in the year you receive it.

Question 8

How does a PPR or a capitalization insurance pay upon redemption?

Accepted Answer

It only taxes the income (what you receive minus what you contributed), withheld by the insurer or the bank. PPR under legal conditions (retirement due to old age, 60 years or older, long-term unemployment, permanent disability, serious illness, or to pay for a primary home): 8%. Outside these conditions: 21.5% up to 5 years of contract, 17.2% from 5 to 8, and 8.6% from 8, and you return the deduction you received in IRS with the contributions, plus 10% for each year. Capitalization insurance: 28% up to 5 years, 22.4% from 5 to 8, and 11.2% from 8. They are not included in the balance of other sales.

Question 9

How are crypto assets taxed?

Accepted Answer

Sold within 365 days, they pay 28% on the gain, or by brackets if you aggregate. With 365 days or more, gains and losses are outside IRS, but still declared. Exchanging one crypto for another does not incur tax at the time of exchange. The exemption does not apply if the platform is outside the EU or EEA, in a country without a convention with Portugal. Those who buy and sell as a professional activity pay in category B. NFTs are outside this regime.

Question 10

And staking or other crypto income?

Accepted Answer

Income received in crypto assets has its own rules and there are still uncertainties in its application. The simulator does not calculate them: consult a certified accountant.

Question 11

I sold at a loss. What happens?

Accepted Answer

The loss offsets the gains from other sales in the same year. For shares, ETFs, and bonds held for more than 2 years, the exclusion for holding period also applies to the loss: 10%, 20%, or 30% of it is excluded, depending on the time, and only the remainder offsets the gains. If the balance is negative at the end and you aggregate, you can use it in the following 5 years, as long as you continue to aggregate in those years. Losses with entities in tax havens and in Portuguese funds do not count.

Question 12

I bought the same security multiple times. Which one counts?

Accepted Answer

The AT follows the FIFO rule: the first in is the first out. When selling part, the oldest purchase is considered sold. Enter each purchase as a separate sale, with its date and value.

Question 13

And the shares I inherited or received?

Accepted Answer

The purchase value is the value considered for the Stamp Duty in the inheritance or donation, and the purchase date is the date of the inheritance or donation.

Question 14

Where do I declare?

Accepted Answer

Portuguese brokers: Annex G. Foreign brokers and platforms: Annex J. Crypto assets with less than 365 days: Annex G or J; with 365 days or more: Annex G1 or J. The declaration is submitted between April and June of the following year.

Question 15

Does CrediSegur recommend investments?

Accepted Answer

No. CrediSegur is not a financial intermediary or investment advisor and does not recommend stocks, funds, crypto assets, or brokers. This simulator is informative and only calculates the tax. We can talk to you about PPR and capitalization insurance, which CrediSegur mediates as an insurance agent, about credit, and about the rest of your finances.

How much IRS do you pay on your investments?

Three questions and you'll know how much IRS you pay for what you sold

How we calculate

Gains and losses of the year add up

28% or aggregate

Time lowers the tax

Declare abroad too

Illustrative cases

Constança and André were going to pay the flat rate on everything. They didn't know the loss counted.

Carlos was going to sell everything on the same day. The calendar changed his account.

What's true and what's myth in investment taxes

The next step

Support from a CrediSegur manager

Frequently Asked Questions