You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Contribution on banking sector<br />
Most relevant exemptions<br />
• Transactions subject to and not exempt<br />
from VAT.<br />
• Spouse, ascendants and descendants,<br />
concerning gratuitous acquisitions.<br />
• Life insurance premiums and<br />
commissions.<br />
• Imposed on Portuguese resident credit institutions and branches of credit institutions<br />
resident outside the European Union:<br />
• On the debt deducted by own funds (Tier 1 and Tier 2, being the own funds are<br />
computed based on the regulations of the Bank of Portugal) and deposits covered by<br />
the Deposits Guarantee Fund 0.01% to 0.11%<br />
• On the notional value of derivate financial instruments not stated in the balance sheet<br />
0.0001% to 0.0003%<br />
• Certain intra-group financing.<br />
<strong>Tax</strong> <strong>Guide</strong> <strong>2018</strong> 33
Change language