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High-Added Value Job performed in Portugal Flat tax of 20% Flat tax of 16% Any other job performed in Portugal Normal progressive tax rates Pensions Foreign Pension income obtained by non habitual residents abroad, which is, for the same portion which was considered taxable, not considered tax deductible in Portugal, is taxed at a 10% flat rate.
Single tax of circulation – is an annual tax on all vehicles registered in Portugal. This tax is aimed to make the drivers responsible for the emission of CO 2 and harming the environment. [5] [29] ADD-on STC – is to be paid for the most polluting new vehicles (purchased since January 2017) and for diesel vehicles. [30]
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 ...
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
The credit may be limited by category of income, [199] by other jurisdiction or country, based on an effective tax rate, or otherwise. Where the foreign tax credit is limited, such limitation may involve computation of taxable income from other jurisdictions. Such computations tend to rely heavily on the source of income and allocation of ...
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.
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...