PORTUGAL – ANNUAL TAX RETURN – 2023
FILING SEASON NOW OPEN UNTIL JUNE, 2024 A correct preparation of the annual personal income tax return is crucial for a compliant and efficient tax position and it can be a highly complex process, namely due to the different options that can be taken in the tax return, the different regimes that may apply, such …. Read More
PORTUGAL – NEW TAX REGIME FOR SCIENTIC RESEARCH AND INNOVATION
As per the 2024 Budget the NHR tax regime – Europe’s most successful tax regime in Europe for the last 10 years – was revoked from 1 January 2024 onwards, but with a special grandfathering regime, described below. Applicants who become tax resident of Portugal until December 31st, 2024, may still register for NHR, provided …. Read More
PORTUGAL – AMENDMENTS TO THE NATIONALITY LAW
On January 5th, 2024, the Portuguese Parliament approved a law that introduces amendments to the “Nationality Law”, which governs the granting, acquisition, and loss of Portuguese nationality. Currently, the Portuguese legislation stipulated that citizenship could be granted through the process of naturalization, subject to the fulfilment of the following cumulative requirements: (1) Age of 18 years …. Read More
PORTUGAL TO END THE NHR TAX REGIME IN 2023!
PORTUGAL ENDING THE NHR REGIME In an unexpected decision, Portugal’s Prime Minister announced this Monday in a TV broadcasted interview the intention to end the NHR tax regime as regards the new applications as from 2024 onwards. We should have more clarity on the actual details of the measure in the next week, when the Budget …. Read More
2022 Personal Income Tax Return – PORTUGAL
A correct preparation of the annual personal income tax return is crucial for a compliant and efficient tax position and it can be a highly complex process, namely due to the different options that can be taken in the tax return, the different regimes that may apply, such as the Non-Habitual Residents’ regime, as well …. Read More
PORTUGAL – THE END OF THE GOLDEN VISA – RESIDENCE PERMIT FOR INVESTMENT ACTIVITY.
THE END OF THE GOLDEN VISA. On the 16th of February 2023, the Portuguese Prime Minister announced a package of measures addressing housing, which includes closing the Golden Visa regime. For the avoidance of doubt, the proposed changes refer only to the Golden Visa regime (which is a residence permit open to non EU nationals) …. Read More
NEW RULES FOR THE TAXATION OF CRYPTO ASSETS PROPOSED
Following the Government’s presentation of the Budget proposal for 2023, the latter proposes the inclusion, for the first time ever, of specific rules aimed at clarifying the taxation of income deriving from crypto assets. Below is a brief highlight of the main changes proposed. Crypto assets defined – “Any digital representation of value or rights …. Read More
Have you sold property in Portugal? Do you know you can recover 50% of the tax paid?
Have you sold property in Portugal? Do you know you can recover 50% of the tax paid?
Last call for Portugal Golden Visa!!!
The demand for Golden Visas in Portugal in 2021, or Residence Permits for Investment (ARI), as they are officially called, is accelerating, a trend that should continue in the coming months, bearing in mind that in January 2022 foreign real estate investors (from outside the European Union) investing in the coast and metropolitan areas of …. Read More
UK Driving licenses to be exchanged in Portugal.
From 2021 driving licenses issued by the United Kingdom are considered third country licenses. Accordingly, Institute for Mobility and Transport (IMT) released new rules for UK driving licenses. The UK is treated in accordance with the legislation applicable to countries that conform to the International Road Traffic Conventions. This means that holders of UK licenses …. Read More