Money transferred from Portugal to accounts located in tax havens fell 7% in 2023 to 6.9 billion euros, which also led to a fall in the number of people and organizations moving money through these territories.
This data is contained in statistics on the total value, reason and destination of transfers and funds sent to countries, territories and regions considered to have preferential tax treatment, which the Tax and Customs Authority (Tax and Customs) is required to disclose each year. .
According to published statistics, during 2023, a total of 6.925 million euros were transferred from Portugal to approximately 70 of these countries and territories, a figure that reverses the upward trend recorded in 2022, when the total amount that passed through these financial markets was 7.409 million euros.
Switzerland continues to be the destination for the largest share of these transfers, accounting for almost half (€3.261 million) of the total for 2023.
Hong Kong, with a transfer volume of around EUR 1,200 million, and the United Arab Emirates, with a transfer volume of around EUR 635 million, are the second and third destinations for these transfers, respectively.
Over the past few years, this rating has remained stable.
Figures released by AT show that this amount of money was transferred by a total of 16,021 taxpayers between companies (7,815) and individuals (8,206) in 2023, up from 16,142 the year before.
As in previous years, the main reason for these transfers is the “cash management transfer”, the total amount of which is 3.45 billion euros. In total, 45 thousand operations were involved in the implementation of these transfers.
The information, according to a decree published in 2017, “must include the number and amount of transfers and funds sent to their destination.”
On the financial portal, it is necessary to indicate in detail “the type of taxpayer paying, independently providing information relating to special non-resident taxpayers with permanent income tax (NIF, starting with 45 or 71)”, as well as the country of destination of the money. and the reason for the transfer.
This information must also be detailed in the anti-fraud and tax evasion report that the AT must submit annually to the Assembly of the Republic.
Author: Lusa
Source: CM Jornal
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