15 Thursday Sep 2016
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The Government has confirmed that, for independent workers under the Simplified Regime, Social Security deductions are to be based on net taxable income after application of the appropriate coefficient, not the gross received. In addition, overall Social Security deductions due may not exceed 10% of gross income from all sources.
15 Thursday Sep 2016
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A second “IMI” (Municipal Property Tax) evaluation may be requested either by the property owner or by municipal authorities when there is disagreement over the original set values. Nevertheless, any challenge does not suspend the payment of the first assessment.
15 Thursday Sep 2016
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As part of the 2017 Budget proposals, those owning real estate with a rateable value over €500,000 will have an additional tax to pay. The new assessment, as yet named, will be progressive tax and will accumulate with the on-going property tax, IMI. The government hopes to raise an additional €100-€200 million with this new levy.
15 Thursday Sep 2016
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In the first year of operation, the Funchal Investor Desk and the “City with Life” Programmes have registered 236 requests for information regarding rehabilitation of downtown buildings to create Local Lodging accommodations with trade and services on the ground floor.
15 Thursday Sep 2016
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The Portuguese government has transposed the European Directive DAC2, which provides an automatic mechanism for access and exchange of financial information regarding accounts held in Portugal by non-residents and accounts held by residents abroad, including Portuguese citizens. With the USA, a non-signatory to the Common Reporting Standard, information exchange is triggered by bank balances above €50,000.
15 Thursday Sep 2016
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Your Rights
When the universal Social Security system was established in Portugal in 1962, life expectancy was just 66.8 years of age. In 2016, this national average in Portugal reached 81.1 years: 78.2 for men and 83.9 for women. Healthcare makes a difference. At the time, Portugal had one of the highest infant mortality rates in Europe. Today, this key health indicator is one of the lowest. Continue reading
15 Thursday Sep 2016
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Portuguese legislators have changed the taxation on Trusts, have a read here:
15 Thursday Sep 2016
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The Savings Directive has been replaced by the Common Reporting Standard, with far reaching consequences for foreign residents in Portugal. Have a read here:
15 Thursday Sep 2016
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How to obtain the Fiscal Certificate in the AT site – step by step:
