Portugal

Source: Autoridade Tributária e Aduaneira — Portuguese Tax Authority. General information only.

Tax residency trigger: Present in Portugal more than 183 days in a calendar year, or if you have habitual residence in Portugal on 31 December. Tax residents pay Portuguese income tax on worldwide income.

PIT rates: Progressive from 14.5% to 48% on taxable income. Various deductions and personal allowances reduce the taxable base. Portugal's tax year is the calendar year; returns are filed by April/June of the following year.

The original NHR (Non-Habitual Resident) regime, which offered a 10% flat tax rate on pension income and certain other benefits, was closed to new applicants from 1 January 2024. Existing NHR holders retain their status for the remainder of their 10-year period. The replacement — IFICI (Incentivo Fiscal à Investigação Científica e Inovação, also called NHR 2.0) — targets qualifying professional activities in research, technology, highly qualified professions and other approved sectors. The blanket pension benefit does not apply to new arrivals.

Capital gains on most assets are generally taxed at a flat rate of 28% in Portugal for residents. Property gains are taxed at the individual's PIT rate (up to 48%) unless the individual opts for the flat 28% rate. 50% of gains from the disposal of shares in unlisted companies may be included in total income. Gains from cryptocurrency disposals are generally taxable.