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Posts published in “Financial Matters”

Tax Season – Procedures – Automatic IRS Reporting

IRS 2021 – Procedures 1-7 nº 5: Automatic “IRS” Reporting The Portuguese Tax Authority (“AT”) is making available Automatic “IRS” Reporting to millions of taxpayers in Portugal. The change is part of “Simplex”, a programme designed to reduce bureaucracy at all levels of government. The move has similarities to “PAYE”…

Test here or there

Lately, we had different information from the President, Miguel Albuquerque, and the health professionals as to where tourists should do their Covid tests, bevor departure from home or here at arrival.  Tests which are done at the airport and the harbor, are being paid the by the Government, that is…

Fiscal Residency

The vast majority of Foreign Residents share a common trait: most, if not all, of their livelihood comes from outside of Portugal. Great confusion and disinformation abound regarding such income from abroad. Before analysing the different requirements surrounding Individual Income Tax (IRS) in Portugal, it is useful to dispel some of the myths and establish a few of the basics regarding Portuguese taxation and the obligations of the Foreign Resident.  So the first question to consider is: Who is required to become resident for tax purposes in Portugal?

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