The Portuguese tax authority (PTA) issued Ruling No. 21788 on 31 January 2025, announcing that a Portuguese non-resident individual is not liable for capital gains tax in Portugal on the sale of shares in a foreign company with assets in the country.
This follows after a Swedish national, a tax resident in the UK, sought confirmation regarding the tax treatment of gains from selling shares in a US-based company with Portuguese real estate holdings.
The PTA confirmed that, under the Portugal-UK tax treaty, such gains are taxable only in the individual’s country of residence.
