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Income Tax

Moving to Portugal

Last Post by JonesDN2020 3 weeks ago

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Rich1969

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Jan 18, 2023 11:45 pm

(@rich1969)

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Joined: 3 weeks ago

I understand that you can have no income tax for 10 years, but no one talks about what happens after ten years. If after 10 years I have to start paying @ 30% of my retirement income in taxes, it's a deal killer. Is that what happens? You just start paying normal income taxes?

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x-camone

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Jan 19, 2023 7:54 am

(@x-camone)

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Joined: 13 years ago

Hi, and welcome to the forum from me.

Yes, in essence that's what happens although there's a good deal more to NHR and to income tax than that, and you'll need to understand a little of both, together with the relevant double taxation treaty (or treaties) between the country (or countries) where the income arises and Portugal in order to see what income would be exempt from Portuguese tax under NHR and what tax would apply without it.

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JonesDN2020

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Jan 19, 2023 9:44 am

(@jonesdn2020)

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Joined: 2 years ago

Hi Rich and welcome to the forums! In addition to @x-camone reply I would suggest watching this tax video and follow the discussion in the thread. https://expatsportugal.com/community/youtube-content-discussions/lets-discuss-income-tax-in-portugal-with-ricardo-chaves-from-afm-15-10-2022/#post-202558

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