The government will reintroduce tax regime for non-habitual residentsremoved last year by the previous leader, Finance Minister Joaquim Miranda Sarmento said in an interview with a British newspaper. Financial Times.
“But now there is a difference from the previous one. This new tax regime for non-residents will apply only to wages and professional income,” the government official explained.
The non-permanent resident tax regime, introduced in 2009 to attract investors and skilled professionals, gave anyone residing in Portugal for more than 183 days a year a special tax rate of 20% on Portuguese-origin income derived from activities considered to be of high added value.
According to Miranda Sarmento, the newly introduced regime “will include a flat income tax rate of 20%, but will only cover wages and professional income,” excluding “dividends, capital gains and pensions.” “We need skilled labor and economic growth,” the minister emphasized.
The previous government scrapped the tax regime for non-habitual residents in October, with former Prime Minister António Costa declaring it a “financial injustice that is no longer justifiable” and that it had led to an inflated property market.
In November, parliament extended the regime until the end of 2024, but candidates had to prove they were willing to move to Portugal by 2023.
Author: morning Post
Source: CM Jornal
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