AJUDAMOS A REDUZIR IMPOSTOS

Viver em Portugal

1. Qual é a sua situação financeira?
2. O que pretende e como quer atingir os seus objectivos?

Providenciamos um conjunto abrangente de serviços para o seu planeamento financeiro, aconselhando-o tanto na sua declaração anual de rendimentos, como na aposentação, gestão de património e de investimentos.

Orgulhamo-nos da imparcialidade das nossas recomendações e da prestação do serviço personalisado.

Latest News

Changes in NHR AssessmentUnder the final version of the 2020 State Budget, pensions will no longer enjoy full exemption from taxation in Portugal. Instead, pensions will be subject to a flat tax of...Read more
Hybrid “AL” letsQuestion:  I have only been able to let my local lodging unit during the high season. There is now a potential tenant who wishes to rent the apartment from October...Read more
Tax authorities simplify IRS payments IRS in instalmentsWith the Tax and Customs Authority (“AT”) asking taxpayers to remain at home by using digital channels, the process for IRS payments in instalments has been simplified. If you have...Read more
Lisbon Airport has reached 50% of air traffic in August as compared to 2019During this month of August, at least half of the number of flights registered at Lisbon Airport has resumed according to the data from ANA - Airports. Air traffic has...Read more
US Expats: Tax basics when living abroadTax planning is an essential part of preparing to move abroad. You will continue to have reporting obligations and possible tax liabilities in the States based on your US nationality...Read more
Portuguese Residential Tourism deemed best in EuropePortuguese resorts are considered to be the best in Europe among 26 residential tourism developments in 9 countries. According to 54 criteria in 10 categories, Portuguese holiday retreats ranked nº...Read more
EU Blacklist: addressing external fiscal challengesThe list of non-cooperative jurisdictions for tax purposes is a tool to tackle: Tax fraud or evasion; Illegal non-payment or underpayment of obligations; Use of legal means to minimise tax liabilities and money...Read more
“AL” occupancy in Lisbon plummets to 5%The impact of the Covid19 pandemic on the Local Lodging Accommodation (“AL”) market is devastating. In May, average occupancy rates reached only 5% in Lisbon and 3% in Porto,  worsening...Read more
Covid-19Please rest assured that whilst our offices are closed during  lockdown, Eurofinesco remains fully operational and accessible to all of our clients!   Owing to COVID-19, Eurofinesco has implemented risk mitigation measures...Read more

Under the final version of the 2020 State Budget, pensions will no longer enjoy full exemption from taxation in Portugal. Instead, pensions will be subject to a flat tax of 10%. A minimum levy of €7,500 had been proposed, but this measure was eliminated in the final version of the Budget.

Question:  I have only been able to let my local lodging unit during the high season. There is now a potential tenant who wishes to rent the apartment from October to May. Can I do this by concluding a contract for the period and then move forward with weekly or biweekly lets in the summer season?

Yes, such a hybrid solution is possible. You will need a rental contract, defining the duration of the agreement as well as delimit any other conditions. In essence, this arrangement is compatible with your proposed summer “AL” activity. However, you will not be able to deduct expenses as you would with a conventional long-term lease.

During this month of August, at least half of the number of flights registered at Lisbon Airport has resumed according to the data from ANA - Airports. Air traffic has begun to show signs of recovery after the 93.8% drop in the second quarter as compared to the same period in 2019. Due to the pandemic and consequent movement restrictions, the number of passengers fell by 97%. Airports expect to only recover their usual volume of passengers by 2024.

With the Tax and Customs Authority (“AT”) asking taxpayers to remain at home by using digital channels, the process for IRS payments in instalments has been simplified. If you have an outstanding debt of up to €5,000 and do not owe other taxes, it is possible to divide the amount to be paid in a maximum of 12 instalments. However, when the amount owed is above €5,000 or more than 12 instalments are required, the tax authorities still ask for a guarantee.

Tax planning is an essential part of preparing to move abroad. You will continue to have reporting obligations and possible tax liabilities in the States based on your US nationality, in addition to the new requirements founded on fiscal residency in Portugal. As always, the IRS applies harsh penalties for non-compliance. The following is an overview of some of the basics for expats on federal and state taxes as well as estimated payments, penalties and interest. Fortunately, there is a bilateral tax treaty designed to protect you from double taxation. The accord can be used to mitigate or even eliminate assessment in the States while taking advantage of Portugal’s most favorable tax breaks.