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Latest News

euroFINESCO publications continue to expandThe euroFINESCO information distributions reached a new landmark with the release of nº 400. The article addresses the newly updated EU Blacklist that highlights the growing rift between the EU...Read more
Americans compensate for the loss of British touristsLast year, fewer British holidaymakers chose Portugal as a tourist destination, less 111,667 than in 2017. Despite the drop, the overall number of foreign tourists grew by 0.4% last year...Read more
Americans compensate for the loss of British touristsLast year, fewer British holidaymakers chose Portugal as a tourist destination, less 111,667 than in 2017. Despite the drop, the overall number of foreign tourists grew by 0.4% last year...Read more
Residency - Highly Qualified Professional VisaThe Highly Qualified Professional Visa in Portugal targets foreigners who are not nationals of the EU, EEA and Switzerland and who have been admitted 1) as students to higher education...Read more
Existing rental contracts without immediate IRS discountLandlords with a lease in place for several years will only be able to take advantage of the tax breaks created in the new rental law after contract renewal. This...Read more
Higher Education Expenses in 2019Parents with children studying in universities in the interior of the country can receive a 40% tax credit in 2019 for expenses up to €1,000. This tax break is an...Read more
Tax burden in Portugal up in 2017Despite an increase of three tenths, Portuguese taxation remained below the European average last year. In Portugal, the weight of taxes reached 40.2% of GDP and in the Euro Zone...Read more
The next step for Automatic VAT in 2019: the e-InvoiceFollowing the automatic IRS, the “AT” advances to automate VAT in three phases. The Tax and Customs Authority has taken the first step in automating the VAT declaration, making available pre-filling...Read more
Stamp Duty due on annual rent increasesIf you are a landlord and, during the term of a lease, increase your tenant's rent by the amount of inflation (the maximum allowed by law), you must inform Finanças...Read more

The rules governing Social Security contributions for self-employed workers are changing in January. Graduated income tax brackets will no longer be the reference point. Payments will be based on 70% of declared earnings in the previous three months, rather than on the total of sole trader income from the previous year. The rate of contributions also drops from 29.6% to 21.4%. Freelancers will have to submit a quarterly statement to determine the relevant income, which will be the basis for Social Security assessment in the following trimester.

Earned income can be adjusted by up to 25% (up or down) so that workers can elect to pay a higher or lower amount that will eventually be reflected in benefits. The new rules also establish a minimum monthly Social Security payment of €20, including periods with no recorded income, as a way to ensure on-going social protection coverage, rather than the start-and-stop method that was used in the past.