GeniB

No it isn't they have no problem with it,They get their tax's where they can

It's the ex-pats paying different levels of tax that has ticked many off. especially long term ex-pats.Or in our case those that arrived on the cusp of the NHR scheme and were misinformed about it,then prevented from going on it anyway because the country that held our main pensions(Netherlands) strongly objected to it

I think (but don't know of course) that the minister is appealing to that group ..before he recommends shutting down the scheme and just taxing ALL ex-pat pensioners at a certain rate

It is still speculation though,being discussed.

GeniB

Well that's me told....by the font of all knowledge...Remember folks you read it here..Red Eric says it isn't happening. He reads only the sensible news..

Red Eric

It must be the author in you that gives you such a vivid imagination

GeniB

Ummm Its front page news in todays Portugal News Eric.. suggest you read it,unless thats on your black list as well?

Red Eric

If you can manage to do this with a written conversation, I wonder what it must be like actually talking to you?

EMR

To be fair to Eric its the editors interpretation of the announcement.
Is the editor Portuguese or a Brit.
I learned long ago to ignore the more sensationalist views of the expat press.

Red Eric

Lordy Not another one.

Just to be clear on this, I didn't say nothing is happening to the NHR regime. OK?

And the article in the online Portugal News is fine and completely in keeping with what has been reported elsewhere.

GeniB

Lordy lordy indeed, what were you saying then?

You objected to my saying the little word 'scrap'. Well it would seem to me that changing the whole NHR scheme to allow for taxing pensions would be kinda scrapping it ?..Or no?
I am reading todays Portugal News Newspaper right now.. with a huge photo of Centeno on the front, and the headline TAXMAN TARGETS EXPAT PENSIONS.
Can you explain where my 'writers imagination' has got the better of me then ? curious

GeniB

[B[/B] Well I wouldn't start by shouting in CAPITOL letters I am quite nice really

Loafing Along

Found the article in small type :Taxman targets expat pensions - The Portugal News

Two things :

1.The Minister failed to provide a deadline for a tax on expat pensioners to be introduced, or whether it would be a flat rate of either five or ten percent, but said several studies still needed to be completed before a rate and a date were announced.
2.It is also believed that the tax rate will only apply to future residents looking to benefit from the so-called non-habitual resident programme.

Diddion

The NHR benefits are of course much wider than purely pensions, since the benefits also encompass foreign-sourced earnings and gains, and foreign-sourced rental income. The latter (for a UK-domiciled individual) is taxable in the UK, but, at least at the moment, is subject to the personal allowance. A couple could therefore receive an income of £23k from UK rent, without having any UK tax to pay. Whilst NHR there would also be no Portuguese tax; after the 10 years it becomes fully taxable in Portugal (within double taxation rules)

Speaking personally, as a someone about to emigrate to Portugal in 2018, I would be disadvantaged by any new tax on pensions, though I am, quite honestly, much more bothered by what I see as the own goal of Brexit on the potential loss of health cover. I think it always unwise to make decisions of where to live on the basis of the tax system because, naturally, these things can, and do, change. Our decision to live in Portugal was largely due to the wonderful people, reasonable cost of living, and weather, enhanced by the challenge of learning a new culture and language, and we did not actually discover about the tax system until after having made that decision (it was part of our 'due diligence' process). I think the only sensible thing to do is to work out one's figures on the basis of NHR not existing at all, with anything else becoming a bonus.

Red Eric

I think you mean "capital" rather than "capitol" and the accusation is another of your flights of fancy.

GeniB

I think you must have been reading the online version ..(just saying.). as the newspaper version was the full front page -with stonking great headline!!

Yes ,Thats exactly what I was saying,it is being reviewed because of pressure from these other EU countries.As to whether it will be an across the board basic tax for ALL ex-pats, regardless of any previous deals. Or whether existing NHR deals will be honoured ? who knows.Remains to be seen.

We already pay tax here as I have said .We didn't expect the 3.5% tax supplement imposed on us (,supposedly for one year) during the crisis. It has only now gone down to 3% .No signs of it's removal being honoured to date.

GeniB

Well said Didion.. It's exactly the same reason we came to Portugal We also had no idea about the then new tax system.. and we missed it anyway.
i don't think a move to another country should be based on what you can gain from it in monetary terms. Sadly both the NHR scheme and particularly the Golden visa scheme have brought out many who wish to practice tax evasion.(The only reason Portugal has its arm up its back now is because one very wealthy Finish woman ,member of the board of one of Finland's largest companies,explained on TV, that she was moving her whole family to Portugal ,because she didn't want to pay tax in Finland .Thus causing the Finnish authorities to complain bitterly to the EU,joining the Swedish and now the Dutch in protest)
We didn't know about the 35% tax rule when we moved to NL.We had to fight for it as well when we found out ,as the company OH was headhunted (there's an old term ) for refused to believe it existed..They only had one other foreigner in their company.It did cause resentment ..Rightly so imo

Red Eric

Did they?

Was that a formal complaint to the Commission?