Some 6.7 billion euros were transferred to offshore in 2021, below the value recorded in the previous year, with the money going to Switzerland and Hong Kong as the main destinations.
At stake are the transfers and remittances of funds from residents and non-residents to countries, territories and regions that Portugal considers to have a privileged tax regime, which banks are required to report each year through the so-called Model 38 declaration.
According to this data, to which Lusa had access and which is published on the Finance Portal, the value of the transfers made in 2021 amounted to 6,698,118,054 euros, which translates into a decrease of 3.21% or less 222.17 million euros with respect to the value reported in 2020.
Despite the decrease in the total amount, the number of operations increased by 5.53% compared to 2020, totaling 105,519 (5,532 more).
This increase in the number of operations and the decrease in value are fundamentally a consequence of transfers ordered by residents, since with regard to operations ordered by non-residents, the value has stabilized and the number of operations has even decreased.
The same data —which is based on the Model 38 values available as of May 31, 2022— indicates that the transfers ordered by residents amounted to 4,693,674,316 euros (about 214 million euros less than in 2020), while they came from taxpayers with no resident NIF amounts to 2,004,443,738 euros.
In both cases (residents and non-residents), Switzerland emerges as the main destination for these financial transactionshaving transferred the first EUR 2.2 billion to this country, and the second EUR 1.3 billion.
Already Hong Kongwhich appears as the second most chosen destination, received transfers worth 216 million euros from non-residents and 870.6 million euros from residents.
In this list (and considering the NIF of residents and non-residents) United Arab Emirateswith 450 million euros, Singaporewith around 310 million euros and Macauwhich appears as the destination of 148 million euros of these transfers.
THE Ukraine it was, in turn, the destination of transfers amounting to 49.9 million euros from residents and around 5.6 million euros from non-residents.
the operations ofcash management transfer“, “supplier payment” Y “trade settlement paymentThey represent more than five billion euros of the total of 6.7 billion euros that were transferred to these destinations.
Source: Observadora
