Do I need to report interest earned from Portuguese bank accounts on my Portuguese tax return?

You do not need to report interest earned from Portuguese bank accounts on your Portuguese tax return.

If you earn interest from Portuguese bank accounts, you are subject to a flat withholding tax rate at the source of 28%. This tax is withheld directly by the bank. As a result, the tax obligation is considered settled, and you do not need to include this income in your Portuguese tax return.