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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 ...
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]
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...
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 ...
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German income tax comprises 5 income tax bands, with the first two being based on a totally Progressive tax rate and the rest being flat rate. Taxable income is derived after subtracting personal and child allowances from earned income. In addition a number of other deductions may be claimed by German taxpayers.
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 ...