The Portuguese Government has approved recently the so-called Non-Habitual Residency Tax Regime.
The main advantages of this new legal regime are that personal income tax will be charged at a flat rate of 20% during a period of 10 years on labour income obtained in Portugal and there will be no double taxation (exemption in Portugal) for pensions, employment or self-employment income obtained abroad. This means that, depending on the applicable Double Tax Treaty, a foreign national may pay only up to a maximum of 10% tax if any at all (in Portugal and abroad) on certain type of income.
The above mentioned flat rate of 20% will apply to income derived from high value added activities of a scientific, artistic or technical nature, such as i) architects, engineers and similar ii) artists, actors and musicians iii) auditors and tax advisers iv) physicians and dentists v) teachers and academics vi) psychologists vii) self-employed, technicians and similar, including namely biologists and experts in life sciences, computer programmers and activities related to information technologies and informatics, scientific investigation and development activities, designers viii) investors, directors and managers of companies promoting productive investment under projects qualifying to and covered by a contract of tax benefits executed under the Investment Tax Code x) business executives.
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