!!! LAST CALL TO BENEFIT FROM FULL EXEMPTION ON YOUR FOREIGN PENSIONS – PORTUGUESE NHR REGIME – IMMINENT CHANGES !!!
The Portuguese Socialist Party (that backs the Government in parliament) following the presentation of the national budget for 2020 has announced a proposal that will change the Non-Habitual Resident regime as of the 1st of March 2020. This Proposal in its broader terms was already endorsed by the Portuguese government so with a certain degree of certainty these changes will soon be materialized into law.
As such new tax residents in Portugal (those who registered as such from the 1st of March, 2020) will start paying 10% tax on his foreign pensions whereas now there is an exemption on said income. Those who are already tax residents in Portugal and those who will register as such until the 29th February, 2020, will keep the exemption until the end of the 10 year tax break given by the NHR regime.
The exemption is maintained for those who already have it, but it will likely be reduced for those who arrive in Portugal from the 1st of March, 2020.
No other significant changes are foreseen for the NHR regime, so the current tax exemption on foreign dividends, interest, rents, salaries and capital gains from immovable property will continue as it is, making the Portuguese NHR regime still one of the most competitive and advantageous tax regimes in Europe for individuals.
Source: Horizon Consulting Team
NHR new list of value added activities
Portugal has approved on the 23rd of July 2019 a new list of value added activities under the NHR Regime, following “Portaria nº 230/2019”. Please follow the below link to check the list of activities that can benefit from a flat fee of 20% on Personal Income Tax.
Source: Diário da República Eletrónico
Portugal is the best European destination in 2019
Portugal has been elected the best European destination for the third consecutive year at the World Travel Awards 2019.
Portugal, l’eldorado des français
Pour la cinquième année consécutive, le Portugal est la destination préférée des retraités. Les plus jeunes et familles se laissent également tenter. Le premier volet du feuilleton du 13 Heures s’intéresse aux raisons qui poussent certains Français à s’y installer.
Why Portugal Is A Top Choice For Foreign Investors
In 2009, Portugal introduced a range of tax benefits for both EU and non-EU citizens, which made attaining residency quick, easy, and financially lucrative.
Portugal’s ‘golden visas’ generating wide interest in Middle East
Eurico Brilhante Dias, Portugal’s secretary of state for internationalisation, also spoke about Brexit, building up trade and visa-free travel
Source: The National