Recommendations for tax advisors

Rick,

The application of income tax is not as you think.

https://www.doutorfinancas.pt/impostos/ … s-valores/

These are cumulative income rates, which is why the table shows the average rate (taxa media).

For example, if you earn 70 k/year:

- 1. you must subtract 4200 eur, and you pay no tax on this 4200 eur.

- 2. what's left over, you must subtract 8059 eur, and you pay 13% tax on this amount of 8059 eur.

- after subtract 1. and 2. you must subtract 12160 eur, and on this amount of 12160 eur you pay 22% tax

- and so on.

Here's 2 income tax simulators 2024:

https://www.pwc.pt/pt/servicos/fiscalid … r-irs.html

https://www.comparaja.pt/simuladores/simulador-irs

In addition, if you have a high value-added profession, you can apply for non-habitual resident status and pay a flat rate of 20 per cent for all of your income that is not subject to tax in the UK.

@rickbull673

Maybe try BDO. They organized my NHR a long time ago. Now that this perk has come to an end I am wondering what I will do afterwards. Portugal is a high tax country and they try to make the most of "us". A bit like we made the most of our NHR status. I still have not found the "right" tax advisor for this post NHR period.

@TGCampo

Thanks. Yes indeed, very high tax place even if you don't make a lot of money, the tax office taxes a big chunk !

Julia

AFM in Tavira are great people