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Search: Posts Made By: Ukkram
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Forum: Portugal
Dec 24th 2018, 2:17 pm
Replies: 209
Views: 56,851
Posted By Ukkram

Re: Step by Step - Arrival in Portugal

I have never in my life made healthcare contributions in my country as healthcare is almost free. My country does not pay for any medical incident in PT yet I get almost free state healthcare.
All...
Forum: Portugal
Mar 3rd 2018, 1:10 pm
Replies: 209
Views: 56,851
Posted By Ukkram

Re: Step by Step - Arrival in Portugal

In SA if you were ordinarily resident for 915 days over the past 5 years plus 91 days in the tax year when you emigrate you will be tax resident until the date of departure. The date stamp in your...
Forum: Portugal
Mar 2nd 2018, 6:06 pm
Replies: 209
Views: 56,851
Posted By Ukkram

Re: Step by Step - Arrival in Portugal

All what you state is correct. The UK does not have a withholding tax on dividends and interest but the DTA caps it to 15% on dividends and 10% on interest.
These are payable to either country but...
Forum: Portugal
Mar 2nd 2018, 5:04 pm
Replies: 209
Views: 56,851
Posted By Ukkram

Re: Step by Step - Arrival in Portugal

I would not chance it as I want everything legal and above board. The DTA gives details of exchange of information between signatory countries.

If you do not disclose it then your country of...
Forum: Portugal
Mar 2nd 2018, 4:25 pm
Replies: 209
Views: 56,851
Posted By Ukkram

Re: Step by Step - Arrival in Portugal

Quite right Eric. I have never filed tax here personally as I cannot understand Portuguese but it might be different here and there is no need to list your worldwide assets but only the income...
Forum: Portugal
Mar 2nd 2018, 4:01 pm
Replies: 209
Views: 56,851
Posted By Ukkram

Re: Step by Step - Arrival in Portugal

You have been given the "truth" by people that have been there and done that not advice from a car parking attendant pretending to be a lawyer.

I have been dealing in shares, dividends, CGT since...
Forum: Portugal
Mar 2nd 2018, 3:12 pm
Replies: 209
Views: 56,851
Posted By Ukkram

Re: Step by Step - Arrival in Portugal

No no no my boy. It does not work like that. If you sell your shares and the money is made available to you then it is a tax event whether you keep the money in the US bank or not.

If you do not...
Forum: Portugal
Mar 2nd 2018, 11:01 am
Replies: 209
Views: 56,851
Posted By Ukkram

Re: Step by Step - Arrival in Portugal

When my tax loss is used up I will be relocating.

Belgium 0%

Croatia 12%

Isle of Man 0%

Poland 19%
Forum: Portugal
Mar 2nd 2018, 9:01 am
Replies: 209
Views: 56,851
Posted By Ukkram

Re: Step by Step - Arrival in Portugal

Strange. My nice Cross Border Tax Lawyer in Porto said it is 28% as did my Master Tax Consultant who confirmed it at the AT office in Lisbon.
Forum: Portugal
Mar 2nd 2018, 8:54 am
Replies: 209
Views: 56,851
Posted By Ukkram

Re: Step by Step - Arrival in Portugal

Not quite. Interest is capped at 10% and dividends at 15% by the DTA. If these are paid to you from the UK then NHR will give you exemption as the DTA gives UK rights to the tax.

CGT however is...
Forum: Portugal
Oct 30th 2017, 1:35 pm
Replies: 209
Views: 56,851
Posted By Ukkram

Re: Step by Step - Arrival in Portugal

I am aware that the UK tax on Dividends and Interest are taxed differently to South Africa where I get my income from but Capital Gains are taxed only by Portugal whether it is earned in the UK or...
Forum: Portugal
Oct 30th 2017, 12:41 pm
Replies: 209
Views: 56,851
Posted By Ukkram

Re: Step by Step - Arrival in Portugal

Category E in my case is Capital Income from gains made in investments or Capital Gains Tax. The Dividends are withheld at source and capped by the DTA at 15%.

PT AT has billed me €11k for a gain...
Forum: Portugal
Oct 28th 2017, 12:46 pm
Replies: 209
Views: 56,851
Posted By Ukkram

Re: Step by Step - Arrival in Portugal

DTA UK - Portugal. Article 13.4 States:

//4. Gains from the alienation of any property other than those mentioned in paragraphs (1)
and (2), shall be taxable only in the Contracting State of...
Forum: Portugal
Oct 25th 2017, 2:27 pm
Replies: 209
Views: 56,851
Posted By Ukkram

Re: Step by Step - Arrival in Portugal

I have spent many hours researching this and found conflicting interpretations of the NHR system even between PwC and KPMG. My accountant even asked members of the Accounting Practitioners Institute...
Forum: Portugal
Oct 25th 2017, 9:13 am
Replies: 209
Views: 56,851
Posted By Ukkram

Re: Step by Step - Arrival in Portugal

My type of income is only taxable in the country of "residence" according to the DTA (South Africa - Portugal). This makes the NHR nil and void. I pay normal tax here on all my income despite having...
Forum: Portugal
Oct 22nd 2017, 6:53 pm
Replies: 209
Views: 56,851
Posted By Ukkram

Re: Step by Step - Arrival in Portugal

Unfortunately the US has the most draconian tax laws and you will have to live with it. Wherever in the world you live and work you will pay tax to the the US to pay for the war costs.
Forum: Portugal
Sep 25th 2017, 3:43 pm
Replies: 209
Views: 56,851
Posted By Ukkram

Re: Step by Step - Arrival in Portugal

As I live in the north I get no discounts and only benefit from the Allianz Medical. I need to keep my AFPOP membership as Allianz is the only medical insurance that allows one to stay a member after...
Forum: Portugal
Sep 25th 2017, 11:46 am
Replies: 209
Views: 56,851
Posted By Ukkram

Re: Step by Step - Arrival in Portugal

Yes if you live in the Algarve as you discounts for many services and medical insurance. The medical insurance discount alone covers the AFPOP membership fees.
Forum: Portugal
Sep 21st 2017, 5:22 pm
Replies: 209
Views: 56,851
Posted By Ukkram

Re: Step by Step - Arrival in Portugal

The NHR is so slyly worded by estate agents to attract buyers who are then blasted with a huge tax bill.
Had I known that I will pay 28% on my type of tax even with NHR, I would have stayed in South...
Forum: Portugal
Aug 19th 2017, 4:54 pm
Replies: 209
Views: 56,851
Posted By Ukkram

Re: Step by Step - Arrival in Portugal

As I said, it gets complicated. If the DTA states that PT has sole rights to tax you on your foreign earnings then the NHR status will be void and you will pay the same tax as locals.

My...
Forum: Portugal
Aug 6th 2017, 8:56 am
Replies: 209
Views: 56,851
Posted By Ukkram

Re: Step by Step - Arrival in Portugal

The NHR act is very complicated and has undergone some changes over the years.
PwC and KPMG has not amended their versions for years and are outdated. The best place to read it would be on...
Forum: Portugal
Aug 5th 2017, 4:37 pm
Replies: 209
Views: 56,851
Posted By Ukkram

Re: Step by Step - Arrival in Portugal

I have been researching PT tax all week regarding my NHR status. Very disappointed with my tax bill of €12k. What a waste of time. Seems like this status only works in your favour if you have already...
Showing results 1 to 22 of 22


 
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