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Taxes in Portugal are levied by both the national and regional governments of Portugal. Tax revenue in Portugal stood at 34.9% of GDP in 2018. [1] The most important revenue sources include the income tax, social security contributions, corporate tax and the value added tax, which are all applied at the national level.
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.
Taxation in Portugal on Income of national Source Taxation in Portugal on Income from Foreign Source until 2020 Taxation in Portugal on Income from Foreign Source after 2020 Taxation In Portugal on Income from Blacklisted Jurisdictions; Pensions Up to 48% 0% 10% 10% Employment Income from High-Added Value Activities 20% 0% 0% 20% Employment Income
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]
This allowed individuals to live for 10 years in Portugal, paying a flat rate income tax of 20% on money earned in the country. This contrasted with a tax band between 14.5% and 48% for Portuguese ...
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.
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 ...
Systems that tax income from outside the system's jurisdiction tend to provide for a unilateral credit or offset for taxes paid to other jurisdictions. Such other jurisdiction taxes are generally referred to within the system as "foreign" taxes. Tax treaties often require this credit. A credit for foreign taxes is subject to manipulation by ...