Ricardo Seabra Moura writes about the Pan-European Individual Retirement Product (PIRPE)

Ricardo Seabra Moura, a consultant in Morais Leitão's tax team, wrote the article ‘Individual Pan-European Retirement Product (PIRPE) - Analysis of Tax Measures’, published in Funds People magazine. The article analyses the recent tax changes introduced by Law 31/2024, of 28 July, which bring the tax treatment of PIRPE into line with traditional Retirement Savings Plans (PPR) in Portugal.

These changes include the application of the Statute of Tax Benefits (EBF) regime to PIRPE and the taxation of income at an effective rate of 8 per cent, provided that certain conditions are met at the time of redemption. The article also emphasises that even if the requirements for taxation at a rate of 8% are not met, the maximum rate of taxation on PIRPE capital income cannot exceed 21.5%.

See the full article here.