There is no specifically named inheritance or gift tax in Portugal. However, gifts and inheritances are subject to taxation and regulated in the property transfer tax code (codigo do imposto municipal de sisa e do imposto sobre as sucessões e doações). The level of tax payable depends on the declared amount to be inherited as well as on the inheritor's relationship with the deceased.

To give an example; for an inherited property with a registered value of GBP 100,000 the children of the deceased would be taxed at 14% whereas non-related heirs would have to pay 36%. If the registered value is GBP 200,000 or more the tax rates would go up to 23% (children) and 50% (non-related heirs). All relatives other than children would be taxed at a rate between the two.