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Home / portugal / Do you have an account with Revolut, N26 or another digital bank? Know what to do on your IRS – Cash and Role

Do you have an account with Revolut, N26 or another digital bank? Know what to do on your IRS – Cash and Role



Why do we need to name overseas accounts?

Any democratic state must control financial flows, so increasing control of tax payments (transparent) but also cash cleaning and rebellious financial offenses. Thinking about this method, it is natural and doesn't need to be sad.

What changed the IRS in 2019? T

Doubts have emerged in the past about the need to open up accounts in digital banks. They are probably the most famous Revolut and N26 banks, but there are many others, such as Denizen (associated with BBVA), Ferratum (more complete, paying the audit account and credit and grant credits), Monzo or Curling. If you have an account with one of these institutions or other banks outside Portugal, try to make sure that nothing is changed in an IRS code. That's right. The law had changed.

This top tip is very important in innovation. When new solutions arise, there is doubt. But the key is that all taxpayers will confirm their bank accounts abroad, be it accounts of traditional banks, investment banks or banks and technology centers. If that institution has an IBAN, you must declare it.

Who has confirmation?

All taxpayers are required to present bank accounts abroad, both their own and the family's members, and whatever the sums involved. The latest news shows that there are about 150,000 taxpayers who have opened their accounts on these platforms for a number of reasons (this growth will not be linked to the increase in bank charges from some). of banks in Portugal, but if we see the benefits of benefits with one account one of these platforms is still tiny … for now.

Does the statement affect my IRS?

The bank account publication does not affect the IRS that pays or gets it, because we have to pay what we need or to depend on the income. If you received income, for example from a financial demand on one of these platforms (such as the Ferratum time deposits), then this would be biased. However, as these units are, at that time, more designated for payments they will not have any impact on your IRS.

How can I present bank accounts abroad?

In order to show your overseas bank accounts you must go to Annex J and to IBAN in Table 11. It is simple. If you have already submitted your statement without making this reference you can make a further statement so that a fine is not payable.

Digital platforms have been changing how banks and the customers connect with each other. Some of our simpler platforms are designed for passengers or migrants. Many of the traditional banking offers are others. Others are more targeted at investments with high levels of return. We may have a platform to link both services. Or maybe not. The truth is that we have no reason to be hiding at the moment that we have these accounts.


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