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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.
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.
The tax rates displayed are marginal and do not account for deductions, exemptions or rebates. The effective rate is usually lower than the marginal rate. The tax rates given for federations (such as the United States and Canada) are averages and vary depending on the state or province. Territories that have different rates to their respective ...
LISBON (Reuters) - Portugal's main opposition leader vowed on Saturday to lower income tax for young people and gradually increase state pensions if he wins a snap election called earlier this ...
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]
That drove an investment boom in Portugal, which generated €7.3 billion (around $7.6 billion) from the scheme between 2012 and 2023, according to data from the Portuguese Immigration and Border ...
The quoted income tax rate is, except where noted, the top rate of tax: most jurisdictions have lower rate of taxes for low levels of income. Some countries also have lower rates of corporation tax for smaller companies. In 1980, the top rates of most European countries were above 60%. Today most European countries have rates below 50%. [1]
Swayed by the low cost of living, a supportive health care system, wonderful weather and excellent tax incentives, Portugal has long been a destination for retirees the world over. Add in the...