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Under Portugal's Non-Habitual Resident Tax scheme, many foreigners (and Portuguese) relocating to Portugal enjoy for a period of ten consecutive and non-renewable years a set of unique tax benefits and exemptions. Notwithstanding the above, there are five main things...
Taxes in Portugal for foreigners are, for many, a dream come true. In fact, under the Non-Habitual Resident (NHR), taxes in Portugal for foreigners are considerably lower. Those qualifying for the Non-Habitual Resident (NHR) regime qualify as residents for tax...
Capital gains are taxed differently in Portugal, depending on how they are created and the taxpayer’s tax residence status. The following is a broad overview of the country’s current capital gains taxes regime. Residents Real-Estate Capital Gains Residents, for tax...
Portugal Crypto Tax Haven to end in 2023 The Assembly of the Republic approved a “new crypto asset taxation regime” with “the aim to create a broad and appropriate tax framework applicable to crypto assets, in terms of taxation of income and wealth” from FY2023...
The Portugal passive income visa (D7 Visa) requirements are several, as this type of visa allows foreign citizens who wish to reside in Portugal (either as retirees or living out of their income), regardless of age, the entrance in Portugal to obtain a residence...
Do you wonder why people invest in Madeira? Let’s start with the beginning: Madeira Island, Portugal, is just under a two-hour flight from Lisbon and has been consecutively voted the “World’s Leading Island Destination” by World Travel Awards. The principal island of...
Taxpayers in the Non-Habitual Resident (NHR) tax regime who choose to be taxed at the special 20% IRS rate cannot use education or health expenses (tax deductions) to lower the tax they have to pay. A taxpayer who has had NHR status since 2017 asked the Tax and...
Preparing for a successful move to Madeira implies long-term planning and understanding of the implications of relocation. Our team of professionals has assisted many expats over the years. From experience, 90% of them do not plan their move to Madeira properly or...
The amendment to the Personal Income Tax (IRS) Code that the State Budget Law established for 2022 (no. 12/2022, of 27 June) makes it mandatory to aggregate income from capital gains on securities when the assets in question have been held for less than 365 days, and...
The war initiated by Russia against Ukraine is affecting Ukrainians and Russians in Portugal. Given this, our team at MCS has prepared the following piece of information concerning Ukrainians and Russians in Portugal and what they should expect should they decide to...