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Taxes on Pensions

Hi

My wife(Swedish) and I (Italian and American) have retired and been living in Spain for almost three years. We would like to move to Portugal but need to know if they tax pension income. I have been reading that they passed a law a year or two ago that makes pensions tax free for 10 years. Does anyone know anything about this?

Roy

Hi,

I believe that you refer to the "Tax regime for non-habitual residents" in force in Portugal. Pursuant to this regime:

    - For a period of 10 years, taxation related to IRS (personal income tax) on labour income in Portugal is at a fixed rate of 20%
    - There will be no double taxation for pensions or for employment and self-employment income obtained abroad.

I hope this was helpful.

Rafael

Yes, it is helpful. Thank you for your reply

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