The New Special Regime for Tax Regularisation (RERT III)

As with the 2005 "Rectification Budget" (RERT I) and the 2010 State Budget Law (RERT II), the 2012 State Budget Law provides for a new Special Regime for Tax Regularisation (RERT III) covering assets held outside Portugal. RERT III applies a new special rate of 7.5% - in place of the 5% rate in RERT II –along identical lines to the earlier regime but providing that it is no longer necessary to repatriate the regularised assets to Portugal.