NearlyThere
2/6/2017 16:58 EST
Hi all. Does anyone have any information about Portugal's Non-Habitual Resident Tax Scheme as it relates to US social security, government pension, and IRA distribution? I've read several sites with info about double taxation but am unclear of how retirement income is categorized. If all three of those income sources are taxed in the US (as I imagine they will be...is that correct?) then will they be exempt from Portugal's tax for 10 years? It *seems* cut and dried but I think that may be too good to be true. I've posted on the Expat Online Tax group on Facebook and have not received any replies as of yet. (When I do, I'll share them here.) Your experience and insight are, as always, greatly appreciated (though will not be construed as official financial or tax advice). Cheers...
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BigWorld
2/6/2017 19:34 EST
Check out the Taxes In Portugal thread posted on this forum:
http://www.expatexchange.com/expat/index.cfm?frmid=278&tpcid=3416987
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craigandmicki
2/8/2017 06:52 EST
Re: NHR--Can you open this? If not, I will cut and paste into an attachment
file:///C:/Users/Owner/Downloads/IRS_RNH_EN.pdf
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Countga
2/8/2017 07:57 EST
Hello,
The following is based on a Tax Seminar presented by euroFinesco thru AFPOP on 27 January 2017. You can go to their website for information, as well. The NHR is currently a 10 year tax holiday for pensions. Those 10 years could change. For Example, Finland recently negotiated a different tax holiday term limited to 3 years. There are 2 classes of pensions. Civil for government service. Private for IRAs & Social Security. One can go online now to apply for the NHR. I did this recently and was approved in 2 days. There is a process, of course. First, one has to register on the website: portaldasfinancas.gov.pt. Once you register you will be sent, via mail, a password. Once you have a password then you can enter the website. Here is the way to get to the NHR link:
Servicos Tributarios>Cidadaos>Entregar>Pedido>Inscricao Residente Nao Habitual
One has to apply within 90 days after the end of the first year that they are considered a resident (183 days or more). Please go to eurofinesco.com and click on "Publications" for more details about the NHR. Hope this information helps. Countga
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NearlyThere
2/8/2017 20:36 EST
Thank you for the replies to this post. @craigandmicki, no, I can't open the link. A cut and paste would be greatly appreciated. @Countga, I was able to log into Eurofinesco as a visitor and read three of the NHR pubs and will contact the company for access to the remaining files. Your information was very useful and interesting, too. Many thanks...or shall I obrigada :>
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craigandmicki
2/9/2017 05:48 EST
To CaptainDave and others: Full details, including how to sign up on your own (with firms charging up to 6000 euros, you want to do it yourself!) and what income is covered. Yes, US social security is a private pension and not taxed in Portugal if you are registered in the NHR plan! IRS_RNH_EN.pdf
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