The tax regime which allows foreign retirees do not pay IRS neither here nor in the country of origin, and highly skilled professionals from getting to pay a personal income tax rate of 20%, has attracted close 8,000 foreign nationals. Of these, 5,653 are already effectively to live in Portugal, reports the Daily News.
Of the 7,921 applications for allocation of non-habitual resident regime that were received in services, 5,653 are already here to live, 514 were rejected and 1,754 are still being analyzed. Most of these foreigners are retired.
Only in 2014, writes the same newspaper, 801 foreign retirees have earned the unusual resident status, and the French, Swedish and Finnish are at the top of the interested parties.
Created in 2009, the scheme was clarified in 2013 to ward off doubts that the pension income could qualify for full IRS exemption for 10 years. And it was from this clarification that fired applications. From an annual average did not exceed 100 applications between 2009 and 2012 has gone up to about 1,000 in 2013, 2,416 in 2014 and last year there were 3,474 applications.
There are already countries to think about measures to combat this “tax competition”, including through the taxation of pensions. Netherlands and Finland are examples.
This scheme, which was created in order to “promote the competitiveness of the economy”, attracting highly qualified foreign professionals (architects, investors, researchers, managers, engineers or doctors ) has attracted essentially retired.
Marlene Carrico text.
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