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Portugal holds on to Europe’s best kept (pensions) secret

Portugal holds on to Europe’s best kept (pensions) secret

NO CHANGES TO NHR TAX REGIME IN NEW STATE BUDGET PROPOSAL

The government’s proposals for next year’s State Budget were made public at midnight yesterday (Friday) and contrary to all expectations there are no changes to the non-habitual tax tax regime (NHR) which gives foreign residents a 10-year tax amnesty on their pensions.

The regime has come under heavy fire from northern EU member states like Finland and Sweden.

Indeed, Finland has already pulled its nationals out of the NHR (click here).

Only last month, reports suggested major changes were in the pipeline (click here).

It was suggested that the government was considering applying a tax rate of anything from 5% to 10% on all pensions income for any NHR newcomers.

 

Read more in the Algarve Resident