PORTUGUESE NHR TAX REGIME TO BE DISCONTINUED
In a recent official announcement, it has been confirmed that Portugal’s Non-Habitual Resident (NHR) tax regime is set to be terminated. The proposal for this significant change in the tax landscape was unveiled in the Portuguese Parliament this month, signalling that the NHR tax regime will cease to exist as of December 31, 2023, effectively marking the conclusion of the current year.
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- Current Residents: If you’re already residing in Portugal, whether you’re a non-EU citizen with a residence permit, a Ukrainian national under temporary protection, or an EU citizen, it is crucial to apply for Portuguese tax resident status and secure the NHR tax regime before the year’s end. Time is of the essence in preserving your eligibility.
- Prospective Residents: For those planning to move to Portugal, whether you’re an EU citizen or a non-EU citizen with a visa appointment at your local embassy, it’s advisable to reassess your plans and ensure you can complete all necessary steps before the end of the year. This proactive approach will help you avoid uncertainty regarding your eligibility for the coveted NHR status.
Given the magnitude of this policy change, we strongly encourage all individuals who may be affected to take swift action to secure their eligibility for the NHR status.
If you have any further inquiries or require assistance, please do not hesitate to contact us. We are here to provide the necessary support and guidance during this crucial transition period.
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