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Under the Investment Tax Code, approved on September 23 2009, [3] a new type of residency, for tax purposes was created under the Personal Income Tax Code, called non-habitual residency (NHR). This new tax residency type was created in order to attract to Portugal high-skilled professionals and pensioners obtaining foreign income.
This allowed individuals to live for 10 years in Portugal, paying a flat rate income tax of 20% on money earned in the country. ... Lisbon has become a hub for digital nomads since COVID-19 opened ...
The "Non-Habitual Resident" scheme also included tax exemptions on almost all foreign income if taxed in the country of origin and a 10% flat tax rate on pensions from a foreign source.
52.96% (This consists of 40% income tax on the GBP 100k–125k band, an effective 20% due to the phase-out of the personal allowance, and 2% employee National Insurance). The marginal rate then drops to 47% for income above GBP 125k (45% income tax plus 2% employee National Insurance) [ 237 ] [ 238 ]
Personal Income Tax – is a tax paid by Portuguese citizens domiciled in Portugal for their worldwide income. Non-residents of Portugal only pay this tax for their Portuguese sourced income. [11] [12] [13] Corporate Income Tax – is a tax applied to the income of companies operating in the territory of Portugal. [4] [14] [15] [16] [17]
Deloitte explains that under laws aimed at welcoming foreign workers, people who become tax-resident in Portugal are subject to a special tax regime for a period of 10 years under the NHR scheme.
More Portuguese left the country in 2021 than before the COVID-19 pandemic. An increase in emigration to Northern Europe, Belgium and the Netherlands was reported. [159] Portuguese emigrants living in France, Switzerland and the United Kingdom sent the most remittances to Portugal. In 2022, emigrants living in these countries were responsible ...
The country's former prime minister called the tax breaks a "fiscal injustice" that drove up house prices. Desperate for growth, Portugal backtracks on hostility to digital nomads as its tax ...