Let’s Discuss Income Tax in Portugal with Ricardo Chaves from AFM
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- čas přidán 5. 08. 2024
- Although tax is not often seen as the most exciting topic, it sure is one of the most important, and getting the right advice is essential. Ricardo Chavez from All Finance Matters (AFM) takes us through the Portugal tax road map.
We will be covering a number of areas, including: Non Habitual Residency tax regime (NHR), types of income that are taxable, tax free limits, deductibles, procedures for paying tax - filing requirements, timing, etc.
AFM areas of expertise are Tax and Accountancy, offering support to both corporate and individuals. Not only are they highly knowledgeable in their field, their experience helping clients worldwide also means they understand the needs of an international community getting to grips with the Portuguese system for the first time.
Contact Ricardo Chavez here: expatsportugal.com/business-d...
Expats Portugal Premium Members receive a 20% discount on a tax consultation with AFM.
Join the discussion on this video here: expatsportugal.com/community/...
* CHAPTERS *
0:00 Overview of the Portugal taxation webinar
2:30 Ricardo from AFM Introduces his company.
3:50 Portugal’s NHR tax program explained.
6:12 Portugal tax components you need to be aware of.
17:53 Inheritance tax in Portugal.
19:59 Wealth Tax in Portugal.
22:03 Business tax in Portugal for self-employed and corporations.
25:32 Information about the presentation.
26:24 Changing your address to Portugal for tax residence.
27:41 Portugal split year tax treatment, tax deadlines, how to file, deductions, and cost for services.
36:44 Portugal taxation on managing businesses overseas, dividends, Interest, and capital gains.
43:25 Portugal taxation of US social security, 401K, Roth accounts, and government pensions.
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Best,
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Great discussion on this subject here: expatsportugal.com/community/youtube-content-discussions/lets-discuss-income-tax-in-portugal-with-ricardo-chaves-from-afm-15-10-2022/#post-202556
Clear, well structured presentation and explanation. Thank you.
Yes, terrific talk. Thanks.
Our pleasure!
For U.S. person - working remotely for U.S. company while living in Portugal and have NHR status - can we take Foreign Earned Income Exclusion? I see section where it asks if I have signed some paperwork so that I won't be subject to income tax in the country I live in"? Sounds like if we have NHR, we cannot take Foreing Earned Income Exclusion?
If you are a US citizen working for a US company, it is not considered foreign income.
Great information but super dry information and that’s why I will pay a professional to handle. Nice presentation.
When are taxes not dry?
SS benefits aren’t taxed in Portugal as they’re taxed in the US.
That is a subject I have been researching through the DTA with the US and Portugal. The updated technical explanation mentions might be taxable. The US and Portugal require reporting of worldwide income. I am looking for a legal source to substantiate that comment. If you have one, I would appreciate you sharing it.
I keep coming back to home.treasury.gov/system/files/131/Treaty-Portugal-TE-9-6-1994.pdf Article 20. l(b) provides that social security payments and other public pensions paid to a resident of a Contracting State or a citizen of the United States by the other Contracting state may be taxed in that other state. This rule includes railroad retirement benefits provided for in the Railroad Retirement Act of 1974. Social security payments may be taxable in both Contracting States, with the State of the recipient's residence allowing relief from double taxation under the provisions ofArticle 25 (Relief from Double Taxation) for any taxes imposed by the contracting state in which such payments arise.
@@JonesTravelers If the pension is taxed in the country of the source, it can’t be taxed in Portugal. The attorney himself says it on the video which contradicts himself at the same time. He talks about government pensions, city pensions as taxed in the US hence exempt from paying the 10% tax in Portugal.
@@JonesTravelers czcams.com/video/RDEK84EUSfY/video.html
@@Mr.S65 There is a clear difference in the DTA between government pensions and social security. I am under both. I was in the camp that SS was not taxed in PT based on the initial DTA then started reading the TE and now need convincing to stay in that camp.
There has to be more to Portugal, than taxes and death, that´s
just to Islamic...