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News / Portuguese Taxation Of Trust Distributions

Portuguese Taxation Of Trust Distributions

24.12.14

Please note that this article is over six months old. While Blevins Franks takes care to make sure that information is accurate on the date of publication, some content may change over time. You should not rely on the accuracy of legislation and tax information in this article; take professional advice for your circumstances.

The Portuguese authorities have in the last few days announced a change which is likely to take effect from 1st January 2015, and is one that without swift action could adversely affect the tax levied on distributions from 'fiduciary structures' such as trusts.

The Portuguese authorities have in the last few days announced a change which is likely to take effect from 1st January 2015, and is one that without swift action could adversely affect the tax levied on distributions from 'fiduciary structures' such as trusts.

There are steps that can be taken to potentially limit or avoid the impact of these proposed changes, but action needs to be taken prior to 1st January 2015.

If you are a Blevins Franks client based in Portugal and hold investments through a trust please email us on [email protected] as emails will also be viewed over coming days for similar reasons.

Our office in the Algarve will be opening as outlined below during the festive period, in order to act upon any client instructions relating to the recent proposed trust changes signalled by the Portuguese authorities.

OPENING DAYS
Mon 29 Dec from 14:00 until 17:30
Tue  30 Dec from 09:00 until 17:30
Wed 31 Dec from 09:00 until 13:0

Tax rates, scope and reliefs may change. Any statements concerning taxation are based upon our understanding of current taxation laws and practices which are subject to change. Tax information has been summarised; individuals should seek personalised advice.
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