Tax Guide · 2026
Forex Tax in Portugal 2026
Capital gains, CFDs and spread betting — how Portugal taxes forex profits in 2026, the headline rate of 28% flat, filing deadlines, and loss-offset rules enforced by Autoridade Tributaria e Aduaneira (AT).
Portugal Forex Tax Rates 2026
The brackets, rates and thresholds that apply to forex and CFD profits in Portugal for the 2026 tax year.
| Income Tier | Tax Rate | Threshold | Notes |
|---|---|---|---|
| Default autonomous rate | 28% | All gains | Applies without election |
| Optional englobamento | up to 48% | Progressive IRS | Elect if rate is lower |
| Mandatory englobamento | up to 48% | Income > EUR 80,000 | 2023 rule change |
| Loss carry-forward | n/a | 5 years | Only under englobamento |
Source: Autoridade Tributaria e Aduaneira (AT). Rates apply to the 2026 tax year and are subject to change in national budget updates.
Key things Portugal forex traders need to know
1. Who administers forex tax in Portugal
The Autoridade Tributaria e Aduaneira (AT) is the primary authority responsible for collecting forex and CFD capital-gains tax in Portugal. Filings are made annually on Modelo 3 IRS, Anexo G with the deadline falling on 1 April to 30 June. All records — broker statements, trade ledgers, and proof of any foreign withholding — should be retained for the statutory minimum period (typically 5-7 years).
2. How forex is classified versus CFDs
Forex and CFD profits are mais-valias mobiliarias under article 10 of the IRS code, declared on Anexo G of the Modelo 3 return. The default treatment is a flat 28% autonomous rate.
3. Spread betting status in Portugal
Spread betting is not offered to Portuguese retail clients. The CMVM treats any such product as a MiFID II derivative subject to the same capital gains regime as CFD trading.
4. Cryptocurrency treatment
Crypto gains held less than one year are taxed at the same 28% flat rate as forex/CFD since 2023. Holdings of 365 days or more escape tax unless the source jurisdiction is considered a tax haven by Portugal.
5. Professional-trader reclassification
If the AT classifies trading as an actividade comercial, profits move into Categoria B business income subject to progressive IRS plus Seguranca Social contributions.
Go deeper: full Portugal tax guide
This page is the 2026 headline summary. For an in-depth walkthrough including software recommendations, record-keeping checklists, and foreign-broker declaration workflows, visit the full deep dive.
Read the full Portugal tax deep diveFrequently Asked Questions
How much tax do I pay on forex profits in Portugal?
Do I need to declare foreign-broker profits in Portugal?
Is spread betting tax-free in Portugal?
What happens if I am classified as a professional trader in Portugal?
Reviewed by
Daniel FerrettiRegulatory Affairs Editor · EU Financial Regulation Specialist
10+ years of experience · 28 articles
- LLM International Financial Law, University of Luxembourg
- Former CySEC Compliance Officer
CFD Risk Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
This website is for informational purposes only. The content does not constitute investment advice. Trading leveraged products carries a high level of risk and may not be suitable for all investors. Past performance is not indicative of future results. EU retail leverage limits apply (ESMA): up to 30:1 on major FX pairs, 20:1 on minor FX, 20:1 on major indices, 10:1 on commodities, 5:1 on equities, 2:1 on crypto.
This page is for informational purposes only and does not constitute tax advice. Tax rules change frequently and depend on personal circumstances — consult a qualified local tax adviser before making decisions about your forex or CFD trading activity.