Please take a look at our latest email update for more information - mailchi.mp/expatsportugal/f26102023 ‼You may have seen comments suggesting the income tax in Portugal is 40-50%, this is not a flat rate and there are many variables. Portugal has a progressive tax system. There are tax treaties in place between Portugal and 70+ countries to prevent a taxpayer from paying both in the country where the funds were sourced and Portugal. Depending on the situation, there may not be any tax due in Portugal or very little. Additionally, individuals *without* the NHR also get deductions from part of the expenses incurred from renting, healthcare, education, car repair, restaurants, public transport passes and even gym membership + more. Not having the NHR will certainly have an impact, but not on all and maybe not as considerably as you may think. Please ensure you look into the figures and assess your particular situation, ideally with a professional. There are a great number of variables to this and ways to manage taxes. Please take a look at our latest email update for more information - mailchi.mp/expatsportugal/f26102023
@c4right87910 ай бұрын
I know what people like Gilda are saying that people are only coming for the tax incentives, and thought people were coming for the nice people and country. But let’s be honest financially if you pay tax in UK then the additional in Portugal who is going to pay more tax and over inflated property prices in Portugal now to live there. You are better to wait until it all goes wrong for the Portuguese government and they do a u turn . Nowhere is worth paying 48% tax on income. If you do the sums 48% tax, over inflated property prices over taxed prices on used cars. The other benefits of lovely country and nice people doesn’t add up if you cannot sustain living there. There are other nice places to live , it now makes Spain look a lot more attractive.
@David-ii8nu10 ай бұрын
This idea that the end of NHR shouldn't affect expats' plans is almost insulting. "Oh, I thought you were coming here for the food and the culture, so suddenly losing half your income should not matter to you." It's an insensitive perspective that views the matter abstractly and not in terms of people's real life circumstances. Similarly one might say, "Oh, I thought you liked the Rolls Royce because of its luxurious features, so it shouldn't matter to you that it costs $400,000.” 🙄 The two preferences are not mutually exclusive. One can like Portugal and what it has to offer, and still be unwilling to go into poverty to live there. In actuality, once the NHR ends immigration to Portugal is going to fall off a cliff. Many of the people in the Portuguese immigration industry will scarcely be able to maintain their businesses. I hope that those working in this industry will reach out to their government officials, because your livelihood is at risk. The interest people have in this topic is because people are changing their plans and are deciding not to move to Portugal. Suddenly requiring that immigrants pay cumulatively 50%+ of their income (which is ridiculously high, regardless of the context) - without sufficient notice so that people could immigrate before the end of NHR, is an untenable proposition for most people. Believe it or not, you will see the effects of it very soon.
@carolchisholm43310 ай бұрын
I can’t fathom not grandfathering the people who are already in the process.
@Jacob-tp3sw10 ай бұрын
I think this will be the inflection point, and things will go south very dramatically for anyone who has stake in this topic. I wonder if Portugal will instantly get incredibly rich when the foreigners start to leave. I think anti-immigrant folks do not realize yet, but the actual cause of their problems is their elected officials.
@Nnomadd10 ай бұрын
not really.
@glicmathan177110 ай бұрын
I I agree. If government was truly interested in prosperity for locals, why not lower taxes to a flat rate of say 10%? No, they’d rather deter outside investment and continue robbing the poor Portuguese. Its a socialistic country after all. I was going to apply for residency in 2024 but now looking at Balkan countries like Serbia. Portugal already happened. What made it so popular is now in its past.
@Nnomadd10 ай бұрын
@@glicmathan1771 lol, what an ignorant comment.
@PortugalDoor10 ай бұрын
Portuguese native here. I absolutely agree. It's so easy to find a scapegoat to blame for all your misfortunes, and it's easy to blame foreigners for it. But doesn't really matter much for politicians either way if they know this, because most people don't, so it's good for votes even if bad for the country
@Nnomadd10 ай бұрын
@@PortugalDoor Is very Portuguese to blame politicians, but in this case they were spot on.
@ExpatsPortugalCommunity10 ай бұрын
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@maryr759310 ай бұрын
Carl, pls tell Gilda that she needs to check ppl's understanding of how taxes work in PT before they decide to pull the plug from the process. If you look at any videos about end of NHR, ppl talk about taxes at 48%. Clearly they are thinking their entire income will be taxed at 48%. I copied this example from a different website about progressive tax. Do I Pay the Same Percentage of Tax on All My Income? No. With a progressive tax, you only pay your highest percentage on the portion of income that exceeds the minimum threshold. The following is not representative of PT tax rates. For example, in x particular country....if a single person makes $100,000 in 2022, they fall into the 24% bracket (as well as lower brackets). However, only the portion of their income that exceeds the bracket's minimum threshold of over $89,075 is taxed at that rate. Thus, income is taxed at 10% on the first $10,275, then 12% on income up to $41,775, and 22% on income up to $89,075. In this scenario, only $10,925 ($100,000 - $89,075) would be taxed at 24%. Plus there are deductions from the income...yearly personal allowance per person, as well as for products/services purchased in PT when giving your NIF number at time of purchase. For example, groceries at supermarkets, clothing, veterinary visits, dentistry work, eye glasses, rx, construction materials for house repair, etc. There are limits of the deduction for each category, but it can lower the income such that your final number fits into a different tax bracket.
@maryr759310 ай бұрын
Carl, your websites are not accessible from US...they say it's a hosting error.
@maryr759310 ай бұрын
They worked later on last night.
@maryr759310 ай бұрын
Carl, fresh portugal YT channel has something of a fastrack visa called express interest so that ppl can get NHR. They are asking for assistance from "potential partners" to help clients as they are overwhelmed with interest. You need all the things that the d7 would need but somehow it's being rushed through who caught in middle. Perhaps you can interview and find out about it. Instead of potential expats saying no....everyone could work collaboratively together to get folks there.
@michaelmiddleton331110 ай бұрын
I'll be damned if I'm going to give up the great tax benefits of a Roth IRA and hand over close to 40% to PT. Plan derailed. Tax incentive gone in Portugal. Squatters in Spain. On to Italy... You're a great interviewer!
@Pauln7110 ай бұрын
Yeah I can't afford for the Portuguese government take half of my pension
@maryr759310 ай бұрын
Roth can be used as a non taxed thing. I tried to refer to a tax company who has info on their website about this but yt blocked my comment. See fb tax benefits for expats in portugal grp, the tax company company who supposed the group has a blog which details how to do the roth so not taxed.
@standelasanantone218010 ай бұрын
The timing of this change is a bit a unfortunate, as we have now applied for our D7 visas, and leave in 3 days for our 3rd scouting trip to find our 'forever home' in Algarve; now we have to adjust fire and seriously reconsider our options.
@timmullen67810 ай бұрын
Me too leaving today waiting for our ride to DIA 3 rd trip this year 3 weeks scouting trip. Had planned to move to Lousa and meeting our realtor there. She’s probably going to go out of business now as most of her clients are expats and won’t be buying anything with this kind of confusion. Can’t sell here because of interest rates can’t buy there because of the tax’s it’s just a long vacation now.
@maryr759310 ай бұрын
@@iwanttovote6053 I can't seem to find my original comments to you. Here is the 50,000 euro pension example you asked me about. Using PT tax chart, example for 50,000 Euros and not taking any deductions into consideration which would normally reduce total income before applying to the tax bands. (Deductions include a personal allowance per pension/income, also deductions can be taken for any products/services purchased in PT when your NIF is given at time of purchase. These include groceries at supermarkets, dentist visits, veterinary visits, rx, clothing, construction materials for house repairs,hair dresser/barber visits, medical visits at private facilities, restaurants, etc. Each category has a limit for how much you can deduct. Still being able to deduct all these expenses from your total income means your total income will be lower and probably land you in a lower tax band...thus paying less tax. The first band is up to €0 to €7,479 at 14.5% 7479 x 14.5% = tax €1,084.46 The second band is €7,479.01 to €11,284 at 23% 11,284 - 7479 = 3805, 3805 x .23 = €875.15, tax = 875.15 The third band is €11,284.01 - €15,992 at 26.5% 15992 - 11284.01 = 4707.99, 4707.99 x .265 = 1247.62, tax = €1,247.62 The fourth band is €15,992.01 - €20,700 at 28.5% 20700 - 15992.01 = 4707.99, 4707.99 x .285 = 1341.78, so tax = €1,341.78 The fifth band is €20,700.01 - €26,355 at 35% 26355 - 20700.01 = 5654.99, 5654.99 x .35 = 1979.25, so tax = €1,979.25 The sixth band is €26,355.01 - €38,632 at 37% 38632 - 26355.01 = 12276.99, 12276.99 x .37 = 4542.12, so tax = €4,542.49 And the last band for this example of €50,000 income is €38,632.01 - €50,000 at 43.5%, 50000 - 38632.01 = 11367.99, 11367.99 x .435 = 4945.08, so tax = €4,945.08 Add each band's tax: 1,084.46 + 875.15 + 1,247.62 + 1,341.78 + 1,979.25 + 4,542.49 + 4,945.08 = total tax to pay for the year = 16,015.83 If your 50,000 euro pension was taxed at 48%, it would be a tax of 24,000. So everyone who is thinking their income is going to be taxed at 48% is not understanding how the PT tax system works
@iwanttovote605310 ай бұрын
The general (not specific to any person) Portuguese tax table for American expats is available online if you search "portugal tax rate"-- I panicked at first but found the tax rate and feel much, much more secure. Give it a shot and see. Best.
@soniasousawachholz449610 ай бұрын
Just started our processes, and also already bought a state there.😳
@maryr759310 ай бұрын
@@soniasousawachholz4496 funny they have no states
@craftbrewer403210 ай бұрын
Trendy is temporary. The trend for Portugal is winding down, everyone is tired of watching youtube channels about people rehabbing a derelict property in the middle of nowhere Portugal. The only people who think those shows are great have never been there. The reality is, the way overpriced real estate in places where people actually want to buy and live. So on top of paying way too much for a property I now will be on the hook for 48% tax, not happening.
@maryr759310 ай бұрын
Have you considered that your entire income is not taxed at 48%? Also consider that for things/ services you've purchased with the NIF you will be able to deduct from your income. Do I Pay the Same Percentage of Tax on All My Income? No. With a progressive tax, you only pay your highest percentage on the portion of income that exceeds the minimum threshold. The following is not representative of PT tax rates. For example, if a single person makes $100,000 in 2022, they fall into the 24% bracket (as well as lower brackets). However, only the portion of their income that exceeds the bracket's minimum threshold of over $89,075 is taxed at that rate. Thus, income is taxed at 10% on the first $10,275, then 12% on income up to $41,775, and 22% on income up to $89,075. In this scenario, only $10,925 ($100,000 - $89,075) would be taxed at 24%.
@lgruss10559 ай бұрын
The portugese tax system is so confusing. So if USA citizen returies in portugal as a resident under D7 and had $3500 monthly income from US social security and 401K what would they owe portugal yearly
@user-mj6sl9qv8j10 ай бұрын
Great work- thanks very helpful. Im just looking at changing my tax residency and started looking just as this NHR door was closing but I think it's possible that with the new scheme it may still be valuable.
@ExpatsPortugalCommunity10 ай бұрын
Thank you. Glad it was helpful!
@luisfilipe53410 ай бұрын
Real estate speculation by foreigners is making impossible for locals to buy or rent a house
@maxflight77710 ай бұрын
Nothing to do with basic supply and demand heh? It isn’t going to be any different without NHR! It’s the same dynamics in Spain/Italy and Greece
@luisfilipe53410 ай бұрын
@@maxflight777 yes.. not enought offer to cover the speculation. If that dinamics exist, is unfair. Governments should act.
@periscope773110 ай бұрын
@@luisfilipe534 The Portuguese government should regulate Airbnb the same as what New York State and Florence, Italy are about to mandate: Zero for stays less than 30 days. Other regular tenants complain of loud noise and security issues in these residential buildings.
@luisfilipe53410 ай бұрын
@@periscope7731 Agree. And prevent non residents to buy houses here, due to severe lack of houses to live or rent.
@periscope773110 ай бұрын
@@luisfilipe534 Don’t worry my brother. I am of Portuguese descent. Therefore, I am in solidarity and understand your sentiments. Portugal should be benefiting its own people first.
@victorbehar80410 ай бұрын
The draft government proposal ending NHR includes possible replacement incentive program in the form of a 20% flat tax. So, the sky is not falling. It is just a proposal, so it doesn't make a reality, but it seems there is an appreciation that having SOME kind of incentive program is important.
@maryr759310 ай бұрын
Only tax incentive program talked about by anyone is one for freelancers who those who want to work for a PT company or higher education....for teaching or doing something in sciences for which a person would need a PhD. For that program it was supposed to be a sliding scale up to 50% off your taxes. The proposal is expected to be passed because there is a majority in the govt, same as Pres. The PS party is supposedly trying to be known as responding to what the ppl want....which unfortunately is bad for PT in the long run. If more expats chose not to live in the big cities when they arrived...this problem could have been avoided...since there was not enough affordable places to live for the Portuguese to live in the city cities...let alone all the expats trying to move there. If PT had done some preplanning and reinstalled rail lines to the former larger cities in the interior of the country....folks wouldnt have felt like needed to stay along the Coastal rail line. 30+ yrs ago, there were rail lines to Tras-os-Montes, up the Douro valley, Viseu, Guarda as well as buses between cities that were more frequent...but because of population decline in those areas and low ridership, they canceled the rail schedules. Some of the rail lines still exist but others they have made into walking/biking trails similar to other countries.
@Mr.DJones9 ай бұрын
Thank you for your time and posting. This was perfect timing as I am just looking into Portugal. But I have a low income and pay zero taxes in America, so paying 13% or 21% may still be worth the move. Dear Gilda. Welcome to the American way. Their lives are all about money, and not happiness. Yes, it is very sad. Thank you and the gentleman very much for your time.
@laurap.580410 ай бұрын
I absolutely agree with mr Reis!!! will not at all solve housing problems
@larryalesi635610 ай бұрын
So Costa can unilaterally make this NHR change as of January 1st? Does the Portuguese government move that fast? I'm planning on retiring to Portugal in 2025, but I'll now have re-evaluate these plans and see if it's still going to be viable.
@Pauln7110 ай бұрын
I'm in the same boat. Would be late 2025 for me
@FilipeSilva110 ай бұрын
hehe @@Pauln71
@Pauln7110 ай бұрын
@@FilipeSilva1 hehe what?
@maryr759310 ай бұрын
Looks like it is the only thing that the country manages to do fast.
@soniasousawachholz449610 ай бұрын
@maryr7593 they're big leeches! 🤢🤑
@DavidPaulNewtonScott9 ай бұрын
I have just done worst possible scenario calculation on my UK pensions i will pay £189 a month extra BUT my equivalent to the council tax is 40 euros a year. No heating bills (wood stove) no water or electric bills. It's a no brainer. The taxes cant go up as the Portuguese could not take any more.
@livingworkingoutsidebox10 ай бұрын
Great job of politicians using problems like housing supply to add double the funds in their pockets rather than to building more housing. Oh and effectively cut the amout of new higher earning immigrants into Portugal. Not just a matter of running the numbers for a year it's 10 years. There are a number of countries that offer great tax benefits and very similar living conditions if not better than Portugal.
@dawngriffiths68049 ай бұрын
Thanks for your reply here. I agree; surely the answer to a lack of housing is to build more! Not reduce the number of people requiring them. Unless of course the government actually just wants to reduce the population? Anyway, right now we are trying to decide between Portugal or Mauritius to emigrate to. Both offer remote worker visas. But today I found out that Mauritius only has a flat 15 % tax rate!? No bands; just that one rate. Is this one of the countries you're referring to maybe? So I'm thinking of Mauritius now. But it does have a few issues; it's not food secure; the country imports 75% of it's food. Plus, foreigners can only purchase property or land in very specific housing schemes which are fairly high value (£300,000+). So these are definite drawbacks. Having said that, I'm now looking to get more info regarding emigrating financially (not just physically). Don't suppose you know anything about that at all? 🙏🏾
@olegkon110 ай бұрын
Hi. We were planning to retire in Portugal in 5-8yrs. We actually visited the Algarve and Spain lately and honestly liked Spain a bit more. And then NHR cancellation was announced. So my question is: will Spanish taxes be lower than Portuguese for US retirees? Say, a retired couple's income will be something like $36k/yr in SS and $24k/yr in 401k (and taxed about $2.5k in US). No real estate. Any estimate?
@maryr759310 ай бұрын
Search YT for expats in Spain...there may be vids with info. There are tons of vids about France and Italy for folks who want to move. So I would image there are Spain vids too.
@jw84110 ай бұрын
Not sure if Spain or Portugal is a good place to retire especially without the tax incentives. Both countries are run by socialist governments whos solution to everything is to tax more. Also both countries have extremely high debt to gdp and poor performing economies. I foresee alot of trouble coming their way in the not too distant future.
@olegkon110 ай бұрын
@@jw841 what other countries are good for retirement, especially in Europe? I've heard of Italy and Cyprus, but not sure about either. Regarding Spain and Portugal, I've heard in Spain taxes are a little less.
@josephrego252710 ай бұрын
The real problem is universal. Simply stated it's: How can I get the best deal for myself at the expense of my brothers? Instead of, how can all my human interactions and choices benefit both me and my brothers? Granted choices on both sides will not always be perfectly balanced. There is give and take and has to be. But when this delicate balance is disturbed, the ride is doomed to end.
@David-ii8nu10 ай бұрын
Or perhaps more simply, "How can I have a good quality of life?" That won't be accomplished by devastating your financial security
@garyclegg49619 ай бұрын
so if you are in the uk and do not lived in portugal thers no chance to get NHR?
@JasonJFlippingLife10 ай бұрын
So if I make 200k in euros a year in the US from real estate. What would I pay in taxes a year if I became a tax resident after the removal of the NHR?
@DavidPaulNewtonScott9 ай бұрын
If I move to Portugal will I pay tax on my uk pensions?
@bri_____197010 ай бұрын
On the timeline, I read somewhere that those who hold a visa (D7/D8, etc) before 31st Dec '23, meaning holding a visa but NOT a tax resident yet, they still qualify for the NHR as long as they meet the 31st March 2024 to apply for it. Basically both visa holders and tax residents still qualify. Is this accurate?
@garyclegg49619 ай бұрын
I have an irish passport Ireland ar not in the shenegan region but can i applie for nhr with it ?
@janebaldock799510 ай бұрын
So good to hear Gilda's honesty about these cheapskate applications for D7.....Portugal is glorious particularly the people with their openhearted honesty. I'm applying for D7 despite long wait for a Canadian consulate appointment. Still going for a 89 day visit this January and will reapply for a D7 on return if necessary whilst selling home in Canada to finally move to my Tavira home.......D7 essential then!
@David-ii8nu10 ай бұрын
Seems financially irresponsible. Just doing what feels good in this case will cost you, literally
@janebaldock799510 ай бұрын
@@David-ii8nu if you're Canadian you will know we don't use VFS but rely on the impenetrable Portuguese Consulates in Canada online form before can access an appointment. Two months for submission through online form to process because poor IT, finally booked end of November appointment on Saturday. How long before receive D7 stamp into passport? Emails requesting earlier appointment but nothing can be done except wait. Why get all uptight if might be taxed as I'm taxed in Canada as a retiree. it's the place, culture and weather I prefer, not the tax benefits.
@periscope773110 ай бұрын
@@janebaldock7995 And the incredible assortment of freshly caught seafood of the day and succulent, locally farmed produce at your disposal within a day or two of harvesting. One can’t live one’s best life while supporting optimal metabolic processes without high quality nutrition!
@iwanttovote605310 ай бұрын
Would these progressive rates (at each tier) and deductions apply to Social Security for US expats? (from taxesforexpats) There is no deduction on first tier and the last numbers on each line are the deductibles (sorry the table didn't translate perfectly). TIA Personal Income Tax Rates in Portugal Below we include information on the Portuguese Tax System for the American Expatriates. Portugal individual income tax rates are progressive up to 48%. Taxable income (EUR) Tax Rates Normal Deductible Amount Up to 7,091 14,5% - Over 7,091 until 10,700 23% 602.74 More than 10,700 until 20,261 28,5% 1,191.24 More than 20,261 up to 25,000 35% 2,508.20 More than 25,000 until 36,856 37% 3,008.20 More than 36,856 up to 80,640 45% 5,956.68
@maryr759310 ай бұрын
I dont know what your chart means but Social security is taxed in pt.
@maryr759310 ай бұрын
I wrote same comment in another spot as I couldnt find my original comments. Here's the tax for the 50,000 euro pension you originally asked about. Using PT tax chart, example for 50,000 Euros and not taking any deductions into consideration which would normally reduce total income before applying to the tax bands. (Deductions include a personal allowance per pension/income, also deductions can be taken for any products/services purchased in PT when your NIF is given at time of purchase. These include groceries at supermarkets, dentist visits, veterinary visits, rx, clothing, construction materials for house repairs,hair dresser/barber visits, medical visits at private facilities, restaurants, etc. Each category has a limit for how much you can deduct. Still being able to deduct all these expenses from your total income means your total income will be lower and probably land you in a lower tax band...thus paying less tax. The first band is up to €0 to €7,479 at 14.5% 7479 x 14.5% = tax €1,084.46 The second band is €7,479.01 to €11,284 at 23% 11,284 - 7479 = 3805, 3805 x .23 = €875.15, tax = 875.15 The third band is €11,284.01 - €15,992 at 26.5% 15992 - 11284.01 = 4707.99, 4707.99 x .265 = 1247.62, tax = €1,247.62 The fourth band is €15,992.01 - €20,700 at 28.5% 20700 - 15992.01 = 4707.99, 4707.99 x .285 = 1341.78, so tax = €1,341.78 The fifth band is €20,700.01 - €26,355 at 35% 26355 - 20700.01 = 5654.99, 5654.99 x .35 = 1979.25, so tax = €1,979.25 The sixth band is €26,355.01 - €38,632 at 37% 38632 - 26355.01 = 12276.99, 12276.99 x .37 = 4542.12, so tax = €4,542.49 And the last band for this example of €50,000 income is €38,632.01 - €50,000 at 43.5%, 50000 - 38632.01 = 11367.99, 11367.99 x .435 = 4945.08, so tax = €4,945.08 Add each band's tax: 1,084.46 + 875.15 + 1,247.62 + 1,341.78 + 1,979.25 + 4,542.49 + 4,945.08 = total tax to pay for the year = 16,015.83 If your 50,000 euro pension was taxed at 48%, it would be a tax of 24,000. So everyone who is thinking their income is going to be taxed at 48% is not understanding how the PT tax system works
@iwanttovote605310 ай бұрын
YES! Mary, you are a doll to do what I did and figure this all out for this 50kEUR example! I just copied and pasted the exact same tax chart in my comment so it doesn't look right but they are the same as your numbers. The reduction amounts in my post for each band are (in EUR rounded) 0, 602, 1191, 2508, 3,008, and 5,956. This means, in this example if we are correct, that a 50k EUR pension (-ish) would be taxed at 16,015 with deductions brings the final tax very low! So, if this is the case, which I have time to verify, I actually can make the move from this perspective.
@maryr759310 ай бұрын
@@iwanttovote6053 Actually someone else who lives in PT did the initial math ...I wanted to make sure I had the correct understanding so this gal did the tax calculation for your example. I added the math work to show you and others who might be reading...how the tax calculation was made. (Definitely not a 48% tax burden.) You asked about US social security...it is taxed in PT. If your SS income is on top of the 50,000 EUR, you'll need to convert the $ to Eur and add to the pension. The US has a foreign tax credit that seems to cover the SS income and any tax paid to PT ...if the percentage you paid to PT is higher than what you would have paid US. (There are some yt channels about french tax and their examples of using the Foreign US tax credit...even though it is looking at the French tax treaty vs the Portuguese tax treaty...but it's the same tax credit...so it created an example that was easy to understand.) Your question above asked about deductions per band...which confused me. The deductions and personal allowance are subtracted from your total income before the PT tax chart is used. There are limits in each category of good/service per year... But I havent looked up those details. But for your example...the most tax would be the 16,xxx figure that I have already forgotten what it was. (Tablet doesn't multitask well...so I can't see what either of us wrote.) If you have Roth IRAs as others have referred to...there is a strategy laid out by the tax grp that I cant seem to mention without having my comments removed. (See next line.) For whatever reason YT seems to be removing my comments whenever I refer to a particular tax for expats tax group website and fb grp on taxes. I don't get how this
@maryr759310 ай бұрын
@@iwanttovote6053 16,015 tax is nothing to sneeze at....but compared to 24,000 tax (@48%)....it is less. The idea of having to pay 16,015 for tax sounds astounding to me...but because the income isn't being taxed by PT throughout the year...makes it seem larger to me. Now how do we try to educate everyone else on YT who is misunderstanding how PT tax works?
@danielcastanheira531710 ай бұрын
If you don't like stay home.
@stephaniedaniels833110 ай бұрын
I totally agree with what Gilda said. It’s true, if your intentions for coming to Portugal is because you like the culture, you love the food, etc. then this tax change shouldn’t make you want to not come live in Portugal. I am moving to Portugal in January of 2026 and these taxes have no effect on that. I don’t mind paying for taxes if I don’t have to worry about healthcare throughout the year. I’m stressed about healthcare here in the United States. I would gladly pay taxes to not be worried. Also, I am moving to Portugal to become a dual citizen with the US because I love the Portuguese culture and I believe it’s what’s best for me and my babies…end of story!
@youtindia10 ай бұрын
The problem is that Portugal's tax rate is higher than almost any other country in the world bar Scandanavian ones. So, people who were comfortable moving from say 30% highest slab to 20% flat income + SS, now have a tax burden of 48% (highest slab) + SS. That's a big stretch in anybody's finances and it's not simply a case of someone not liking portugal. How much tax you pay is a big factor for people considering moving to any country. If the tax in a newer country is higher than the previous country you're coming from then obviously, there will be less takers as is currently happening with NHR going away. One real example: I currently pay approx 5-10% tax in my country. I was fine with paying 20% + SS to move to Portugal, but 48%+SS is a giant ask. It makes absolutely no sense for me to move from 5% tax to 48% + SS. That's whom lack of NHR is going to affect the most.
@stephaniedaniels833110 ай бұрын
@@youtindia Yes, but the taxes you pay in your country is deducted from what you have to pay of the Portuguese tax & it depends on how much you make throughout the year.
@youtindia10 ай бұрын
@@stephaniedaniels8331 Dude, nobody will move to Portugal if that means an increased tax burden. It's not a viable package anymore. Portugal taxes are much higher than even other developed countries. At that point, might as well move to those other countries instead.
@maryr759310 ай бұрын
You will still need to purchase private health insurance because the SNS healthcare is only used in emergency situations. Private health insurance covers the private clinics and private hospitals. Your routine health care should be from the private health care facilities because trying to get routine care from SNS...you will wait a long time....or conversely they only give appts on the same day if you get in line at 8am (as one particular yt vid showed.)
@stephaniedaniels833110 ай бұрын
@@youtindia Dude, calm down. You have your opinions and I have mine. Move around with that…trying to argue with people. 🙄😒
@janebaldock799510 ай бұрын
Ontario, Canada
@luisfilipe53410 ай бұрын
Same policy there right?
@jondeanpt10 ай бұрын
What a shame for Portugal. It really was looking like it could of become to tax haven in Europe and big spenders would keep moving there. The Uk does the same to wealthy people so they leave to Dubai etc every year. At least Portugal can become cheap like Spain now.
@rogerdiogo689310 ай бұрын
Portugal lives medieval times, it can fix any problem thrown at them with extra taxes😢😢😢
@jlea10 ай бұрын
At least it sounds like freelancers get thrown a bone there. 50% off is still great
@maryr759310 ай бұрын
Only if they are in those limited phd categories..science, research, teach in higher ed....have to wait to see how it is fleshed out
@jlea10 ай бұрын
Nah, those are for the NHR. the 50% reduction is a modified version of the return program@@maryr7593
@josehernandez349610 ай бұрын
Less tax means more disposable income that can be spent in Portugal. Which translates into more tax revenue for the government and more JOBS for the people, maybe higher salaries!
@mt410010 ай бұрын
Can you gain tax residency without a visa?
@maryr759310 ай бұрын
Only if you are an EU citizen.
@mt410010 ай бұрын
Yeah. I just found out yesterday. Thx
@junzhang208710 ай бұрын
Portugal housing bubble will pop up finally
@soniasousawachholz449610 ай бұрын
Gilda vc 'parece' muito inocente😅 I have to tell you, I can finde good food and nice people however I going in this planet 😂😂 and of course my money is not to throw away like that darling. Just wait and see. Boas.
@seanodanielsart10 ай бұрын
Portugal is a socialist country. It’s taste of capitalism and foreign investment wouldn’t last forever. The politicians need to stay in power by keeping the economy cool and it’s people poor.
@Pauln7110 ай бұрын
Unfortunately real estate speculators really don't help the Portuguese people
@seanodanielsart10 ай бұрын
Neither does being dependent on their government.
@seanodanielsart10 ай бұрын
This is what happens when taxes are set too high. Nobody can afford to do anything.