Further to the notification that ‘Bank balances of €50k or more to be reported to the Tax Authority’ (January 11, 2019), HERE, questions have been raised and answered to clarify some of the implications of the new protocol agreed by Portugal’s government.

What information do banks have to send?

Financial institutions are obliged to report to the Treasury the amounts that a taxpayer has in a bank account or, if they have more than one account at the same bank, how much is in the various accounts that in their name.

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