Information

TAXATION

TAXATION

Taxation in Portugal

 

In Portugal there are several types of taxes, there is the IRS the personal income tax, the IRC the income tax for companies, IVA VAT, IMI and IMT A kind of property tax and property tax for owners, ISV tax on the purchase of vehicles and the IUC the single tax circulation.
In this article we deal with the income tax for individuals (IRS), this tax applies to all those who work and the Portuguese or foreign pensioners who live in Portugal.

 

Residents who are non-habitual residents (NHR) are of course not subject to income tax (IRS).

 

The schedule and the 2015 income tax rate (tax return 2016) were as follows (annual earnings amount):

• Less than 7035 euros: 14.5%
• Between 7035 and 20 100 euros: 28.5%
• Between € 20,100 and € 40,200: 37%
• Between € 40,200 and € 80,000: 45%
• Above 80,000 euros: 48%