Portugal proposes taxing resident European pensioners

in News · 28-01-2020 16:14:00 · 7 Comments

Portugal’s governing socialist party has proposed taxing newly arriving European pensioners up to 10 percent of their annual revenue, scrapping massive tax breaks granted over the past decade

At the peak of the financial crisis in 2009, Lisbon exempted Europeans from paying tax for 10 years on condition they lived in Portugal for six months a year.

But late Monday the socialist party introduced an amendment to the law that will mean pensioners arriving in 2020 and afterward will be taxed.


Comments:

A 10% tax is minimal, and I am assuming will not be over and above existing dual-Tax treaties Portugal has - so you don't get taxed twice on the same income by different countries.

If this has the consequence of causing some would be immigrants to go to Panama or Cambodia, then this is an added benefit. If I emigrate to Portugal, as I hope to, it is because it is Portugal, because I like its people, its culture and its way of life. People who are simply seeking place where they pay the least tax are not going to be committed to being good residents, and eventually citizens.

In the scheme of things, 10% on pensions is actually a small price to pay to live somewhere with the high quality of life Portugal has to offer.

By William Cooke from UK on 03-02-2020 11:10

Just want to discard the belief that UK pensioners do not pay taxes in Portugal.
My wife and I are UK pensioners, registered "Residente Permanente" here in Portugal and we submit our Modelo 3 annually, through our tax representative and pay income tax to the ATeA Finanças.

By Ronald from Beiras on 30-01-2020 09:54

That would be a shame. I have plans to retire in Portugal. Maybe I’ll spend my retirement income in Spain instead. I think Brits will feel the same.

By Charles from USA on 30-01-2020 02:58

Good, a great law, Portugal has enogh old people as is, get rid of them, import young energetic young people into the country, the country is not a retirement home, Miami has vacancies, send them there, .

By Mr John from Lisbon on 29-01-2020 05:09

Estupidez

By ANTONIO GOMES from UK on 29-01-2020 02:23

Enjoy holidays

By Joginder pal from Porto on 29-01-2020 02:39

The socialist government of Portugal will effectively stop emigration of pensioners with this new tax.
One thing about socialism, socialists have a never ending thirst and desire for the money of other people, whether citizens or foreign residents.
And they eventually always run out of money from all and any taxpayers.

By Marc J. Moniz from USA on 28-01-2020 05:18
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