Portugal Ends Tax Haven for Retired Foreign Pensioners

Future 'non-habitual residents' must pay ten percent of their pensions. The exemption has been in place since 2009 to attract migrants who settled in the country.

RIO DE JANEIRO, BRAZIL - The Portuguese socialist government will end this year with the "tax haven" for foreign retirees. Once the annual budget has been approved, new foreign residents will pay income tax of ten percent of their pension.

Portugal has been implementing a tax incentive program since 2009, aimed at attracting foreigners to take up residence in the country. The program consists of pensioners not paying taxes on their pensions either in the country of origin or destination, while important professionals - from scientists to company executives and soccer players - must pay 20 percent of their income. The exemption applies . . .

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