About TonyJ1

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Some Forum Posts:

Portugal: TAXES IN PORTUGAL:

In my reading of the treaty, social security taxes maybe taxable by the paying country as well as in the country of residence. The country of residence would grant credit for taxes paid in the paying country - see article 21 1 (b) of the treaty. In the case of residents enjoying the NHR status, this would be a non event whilst registered under the NHR scheme.

Portugal: Tax Rates:

You should apply to get into the scheme even if just to safeguard your position, if you do not apply to get into the scheme timeously, there is no possibility for late applications. The tax rules in Portugal are not the same as in the US - you need to look carefully as well into the double tax treaty between Portugal and the US as this determines which country is entitled to tax different revenue streams. Income that is tax free in the US is not necessarily tax free in Portugal,

Portugal: Tax Liability:

Yes - all of these are taxable in Portugal. However, new retirees to Portugal may apply for the 'non habitual residency' and obtain a 10 year tax exemption on most of this income (dividends are taxable). Should investigate the Portuguese US double tax treaty, may find that some of these income streams maybe only taxable in Portugal. May need professional advice to interpret these issues.

Date Joined:

10/9/2015

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