euroFINESCO publications continue to expand

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The euroFINESCO information distributions reached a new landmark with the release of nº 400. The article addresses the newly updated EU Blacklist that highlights the growing rift between the EU and Donald Trump’s “America First”.  euroFINESCO offers a comprehensive library of information on a host of subjects related to taxation and compliance in Portugal. PDF downloads are available free of charge at www.eurofinesco.com/en/our-publications.

Americans compensate for the loss of British tourists

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Last year, fewer British holidaymakers chose Portugal as a tourist destination, less 111,667 than in 2017. Despite the drop, the overall number of foreign tourists grew by 0.4% last year, enough to reach a new record high at 12.76 million. This increase was mostly due to a 20% jump in American tourism, accounting for an additional 135,000 US visitors in 2018.

Theft increase in Lisbon “AL” Establishments

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The distraction of holidaymakers and the lack of security at some “AL” flats have led to a rise in thefts at Local Lodging establishments, mainly those located in the  “Baixa” district of downtown  Lisbon. In response, law enforcement (“PSP”) has started a prevention program with the owners called “Blue Lock”.

Lagos to initiate Tourist Tax

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Following the general approval by the Algarve Mayors’ group, AMAL, the Council of Lagos is moving forward with a €1.5-a-night Tourist Tax. Mayor Maria Joaquina Matos justified the measure, declaring that the tax will help pay for local projects, cover a lack of investment by central government and contribute to making the region more competitive.

“AL” pays commercial rates for water in several municipalities

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The water regulator advocates that establishments used for local housing should pay for water as “non-household” users. The increase is already in place in several councils. However, there are other centres, such as Lisbon, where the municipality has reimbursed the extra charge.

Residency – Highly Qualified Professional Visa

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The Highly Qualified Professional Visa in Portugal targets foreigners who are not nationals of the EU, EEA and Switzerland and who have been admitted 1) as students to higher education (principally at doctorate level), or 2) as researchers to collaborate in research recognized by the Ministry of Education and Science, or 3) as a University professor.

new shorts 6.1.2019

s146 – taxation of fiducuary structures

s145 – tax simplfication

s144 – us retirement savings plans

s143 – tax declarations-getting ready

s142 – us nationals – tax residency

s141 – isolated acts-five potential advantages

s140 – irs – coersive settlement & loss of tax abatements

s139 – documentation – adverse possession – usucapiao

s138 – residency – short-term visa extension

s137 – nhr – taxation of other income

s136 – documentation – lost or stolen credit card

s135 – estate planning – limitations of a will

s134 – other taxes – paying taxes via at direct debit

s133 – other taxes -how to pay taxes when abroad

s132 – irs -taxation of stock option plans

s131 – irs – invoices – how long to keep them

s130 – international taxation of al income

s129 – al – invoicing via online platforms