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Latest News

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Point accounts for driving offences Following the example of other European countries, Portugal is going to introduce a points system for motorists in March. Light and severe... Read more
IMI values 2015 With a decision from Dec 30, 2014 the Government lowered the 2015 sqm property value from €603 to €482,40. This means that the IMI (Council... Read more
Alternative medicines to be VAT exempt The General Assembly approved legislation that reduces from 23% to 0% the VAT charged by professionals of non-conventional therapies (alternative... Read more
EU To Create List of Non-Cooperative Tax Jurisdictions The European Commission has confirmed plans to draw up a pan-EU list of non-cooperative tax jurisdictions. The intention is to create a common EU... Read more
Taxation of Sole Traders in NHR If you exercise the "high value " profession associated with your Non Habitual Resident application in Category B, the levy is customarily based on... Read more
Underground Economy still one quarter of GDP The unrecorded economy (ENR), better known as the underground economy, rose slightly last year to 27.29% of gross domestic product. The figure... Read more
VPT m² value unchanged in 2017 The reference value for determining the construction value of a building for the purposes of “IMI” (Municipal Property Tax) remains unchanged at... Read more
Sole traders with tax incentive Freelancers, who opt for the Simplified Regime in their first two years of registered business activity, benefit from a reduction of 50% and 25%... Read more
Portugal in the top 10 retirement destinations Portugal climbed one position to 9th place in the international ranking for 2017, developed by International Living Magazine. The survey highlights... Read more
Golden Visas on the rise In January, 221 gold visas were granted, which allowed residence permits for a total of 622 immigrants. Most invested in real estate. Since the... Read more
Subsidy for electric cars in 2017 One of the tax incentives in the 2017 Budget encourages the purchase of electric cars with a subsidy of €2,250. Attributed by the Environmental... Read more
Automatic IRS Reporting to speed up tax refunds Automatic IRS Reporting kicks off this year and should reach one third of Portuguese families. Next year, this measure will be extended to a... Read more
Life expectancy can reach 90 years by 2030 Life expectancy continues to rise in developed countries and in some of them, to over 90 years old according to a study published in the journal of... Read more
Portuguese Emigration ranks second in Europe Currently, more than 2.3 million Portuguese live abroad or 22% of the population. After Malta, Portugal is the European country with most... Read more
Sweden “revolted” with Portugal for exempting Swedish pensioners from tax The Swedish Finance Minister, Magdalena Andersson, expressed dismay regarding the Non Habitual Residence regime that offers a 10-year tax holiday... Read more
Permanent Residency in the UK now requires an 85 page form To register as a permanent resident of the United Kingdom now demands an 85-page form, presenting a history of water, gas and electricity bills as... Read more
FT report denounces confusion in the Portuguese long-term rental market The gradual end of rent control is still creating market distortions according to a comprehensive report recently published in the Financial Times.... Read more
Complaints Book goes online An online “Complaints Book” will be launched in July. Initially, the internet version will be limited to complaints about essential public services... Read more
Sole Traders: late payments to Social Security As of February 2017, Sole Traders who are late in their Social Security (SS) contributions will receive notifications with a minimum fine of €50.... Read more
Paying taxes via direct debit soon to be a reality Finanças is studying a solution that will allow taxpayers to pay their taxes by direct debit with a simple payment order where they bank. Foreseen... Read more

Taxation of Sole Traders in NHR

If you exercise the "high value " profession associated with your Non Habitual Resident application in Category B, the levy is customarily based on 75% of gross income, taxed at a flat rate of 20%. This leaves a final flat rate assessment of 15%, as compared to +40% as a typical higher rate taxpayer.

If your business activity is different from your NHR status, tax is commonly based on 35% of the gross income in the Simplified Regime, then assessed at marginal rates. This leads to a typical final assessment of 10-15%