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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.
For example, Portugal offers two types of visas for non-EU retirees: a D7 visa, designed for those with a regular stream of passive income (such as Social Security or a pension — there is a ...
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...
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]
Portugal: Enacted: 16 July 2009: Assented to: 11 September 2009: Signed by: Aníbal Cavaco Silva: Commenced: 1 January 2009: Administered by: Ministry of Finance Portuguese Tax and Customs Authority: Amends; 2020 Portuguese State Budget Law: Related legislation; Corporate Income Tax Code Personal Income Tax Code: Summary; Creates the Investment ...
Nevertheless, with most state income tax rates ranging anywhere from 4% to 13%, avoiding these income taxes could save you hundreds if not thousands of dollars per year.
Employees Provident Fund – Private voluntary retirement contribution system; Retirement Fund – Public pensions; Armed Forces Fund Board – Military pensions; Mexico – Mexico Pension Plan; Netherlands – Algemene Ouderdomswet; New Zealand: New Zealand Superannuation – public pensions; KiwiSaver – Private voluntary retirement ...
Michigan’s flat state income tax rate rose for 2024 to 4.25%, and the law surrounding the state’s pension deduction also changed, as part of a phaseout of the state’s three-tier retirement ...