More and more foreigners lured by tax breaks of Portugal
There are 5653 people in the resident system non-standard, which allows them to be exempt from IRS or pay only 20% tax
• 12:18 Leonor Riso | PHOTO: Getty Images
In our country, foreigners living with non-habitual resident regime. This tax regime allows them to be exempt from IRS (if retired) or pay only 20% tax. In Portugal, there is only one level that pays less than 20%:. The annual income up to € 7035
According to the Daily News the tax administration is to examine more 1754 applications. In 2015, there was a total of 3474, which shows a large increase as in previous years. The newspaper points out that between 2009 and 2012, only recorded an average of 100 applications a year.
In most, applications run by people of French, Swedish or Finnish nationality. Retirees are attracted because for ten years, can not afford IRS or in your country, or in Portugal.
Daily News said that already there are countries such as the Netherlands and Finland, who are studying how to combat the Portuguese tax competition. According to the newspaper, the scheme was introduced in 2009 and clarified in 2013, from which there was an increase of requests.
The rules dictate that foreigners work in Portugal for third parties or as independent in high areas of added value (including medicine or engineering) pay a personal income tax rate of 20%.
as conditions, income that led to reforms may not have been generated in Portugal, and income must be taxed in accordance with the double taxation agreement (which gives the country of residence the right to tax, explains DN).
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