PORTUGAL – SALE OF PROPERTY IN 2021 – CAPITAL GAINS TAX.
In regards to the sale of property in Portugal by a non-resident, please be informed that concerning the tax assessment due upon the submission of a tax return as a non-resident (the filing period starts in April and ends in June) Portugal will consider the gain in total (purchase price – sale price – eligible expenses = gain) for purposes of calculation of the tax due (rate of 28%). However, for Portuguese tax residents, the Portuguese Tax Authorities, under domestic law, only considers 50% of the gain for the calculation of the tax.
Considering the European Union Law and the right of free movement of capitals, it is now possible to appeal the tax assessment in question and have the Portuguese Tax Authorities consider the gain in only 50%, which represents a considerable saving on the final amount of tax to be settled.
The Portuguese courts all the way up to the Supreme Court have already ruled in favour of several taxpayers and the Portuguese tax authorities are now more open to settle this issue amicably.
Given the above it is now possible to file a claim and recover 50% of the tax that will be due in Portugal concerning the sale of a property by a non-resident.
Horizon Consulting is available to clarify any questions arising from this and to assist in the recovery of the tax in Portugal.
Contact us at: info@horizonconsulting.pt
or through our contact page.
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
Link: https://dre.pt/web/guest/home/-/dre/123407856/details/maximized
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.
Source: Expresso
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.
Source: FranceInfo
Link:https://www.francetvinfo.fr/economie/emploi/carriere/vie-professionnelle/retraite/feuilleton-portugal-l-eldorado-des-francais-1-5_3452061.html h
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.
Source: Forbes
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