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Search: Posts Made By: TonyJ1
Showing results 1 to 25 of 418
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Forum: Portugal
Aug 25th 2024, 5:37 am
Replies: 9
Views: 2,371
Posted By TonyJ1

Re: Bank interest withholding tax

That is not the way it works - if you are resident you are taxable on your worldwide income, no matter where earned - not only income from a Portuguese source. The rules are not very dissimilar if...
Forum: Portugal
Jul 5th 2024, 9:45 pm
Replies: 9
Views: 2,371
Posted By TonyJ1

Re: Bank interest withholding tax

It is - article 58 of the Portuguese tax code
Forum: Portugal
Jul 3rd 2024, 9:13 pm
Replies: 9
Views: 2,371
Posted By TonyJ1

Re: Bank interest withholding tax

As a UK resident, you can supply an RFI 21 form + a fiscal residency from HMRC (certifying that you are a tax resident in the UK) to the Portuguese bank so that they reduce the withholding tax rate...
Forum: Portugal
Jul 3rd 2024, 8:29 pm
Replies: 9
Views: 2,371
Posted By TonyJ1

Re: Bank interest withholding tax

Are you tax resident in Portugal or in the UK?
Forum: Portugal
Oct 28th 2023, 9:55 pm
Replies: 39
Views: 4,286
Posted By TonyJ1

Re: Double taxation - is this correct?

''Makes you wonder, I went to chat with my contabilista this morning to ask his opinion.......gave him an example of how tax is treated in UK on rental, from gross rent to tax payable, using...
Forum: Portugal
Oct 28th 2023, 4:01 am
Replies: 39
Views: 4,286
Posted By TonyJ1

Re: Double taxation - is this correct?

Not quite sure what you mean - there a few exceptions I can think of, is if your are for example, a partner in a partnership (and depends what the partnership is invested in) - depending on how it...
Forum: Portugal
Oct 27th 2023, 4:08 am
Replies: 36
Views: 3,571
Posted By TonyJ1

Re: Apply for and Going Through the NHR process

I stand (sit) corrected
Forum: Portugal
Oct 27th 2023, 3:12 am
Replies: 36
Views: 3,571
Posted By TonyJ1

Re: Apply for and Going Through the NHR process

The OP stated that he uses an address of convenience in Portugal - as far as the PT tax authorities are concerned he is tax resident - he has to prove otherwise, otherwise the NHR application will...
Forum: Portugal
Oct 27th 2023, 12:38 am
Replies: 36
Views: 3,571
Posted By TonyJ1

Re: Apply for and Going Through the NHR process

If you were resident in the UK, request the confirmation letter (of UK residence) from HMRC covering at least 1/1/2018 to 31/12/2022 - preferably get it with an apostille

Apply for the NHR - in...
Forum: Portugal
Oct 26th 2023, 11:46 pm
Replies: 39
Views: 4,286
Posted By TonyJ1

Re: Double taxation - is this correct?

If you have the NHR, there is no requirement that the other country taxes it. It will be tax free in Portugal whilst you have the NHR status (provided the tax return is completed properly - not...
Forum: Portugal
Aug 11th 2022, 7:18 am
Replies: 17
Views: 6,609
Posted By TonyJ1

Re: The ins and outs of working within Portugal for a UK company

NHR is a Portuguese tax status (a tax break in other words) and has no relationship as to the length of time etc. The status is granted for 10 years - to be used or not.

The exemption from social...
Forum: Portugal
Dec 17th 2021, 2:15 am
Replies: 7
Views: 991
Posted By TonyJ1

Re: NHR and citizenship

The quoted article is out of date and has too many errors - it is only useful to get a generic idea of the system, but as to specifics - best ignored. The document issued Portuguese tax authority is...
Forum: Portugal
Dec 17th 2021, 2:11 am
Replies: 7
Views: 991
Posted By TonyJ1

Re: NHR and citizenship

The NHR is for 10 years - has nothing to do with citizenship. Portuguese citizens can also get the nhr status
Forum: Portugal
Oct 31st 2021, 9:07 pm
Replies: 7
Views: 783
Posted By TonyJ1

Re: NHR and IMI

Certificates of non residence are not normally required at time of making nhr application
Forum: Portugal
Sep 25th 2021, 8:11 pm
Replies: 57
Views: 4,303
Posted By TonyJ1

Re: Unexpected tax document

https://info.portaldasfinancas.gov.pt/pt/informacao_fiscal/codigos_tributarios/cirs_rep/Pages/irs1.aspx - see nº2

to eliminate taxes paid abroad...
Forum: Portugal
Sep 23rd 2021, 8:56 pm
Replies: 57
Views: 4,303
Posted By TonyJ1

Re: Unexpected tax document

https://info.portaldasfinancas.gov.pt/pt/informacao_fiscal/informacoes_vinculativas/rendimento/cirs/Documents/PIV_13094.pdf
...
Forum: Portugal
Sep 20th 2021, 11:58 pm
Replies: 57
Views: 4,303
Posted By TonyJ1

Re: Unexpected tax document

Though I disagree with the taxman, I would not substitute the tax return - at this stage you are late, and if at some stage, should they require you to resubmit the tax return, the consequences would...
Forum: Portugal
Sep 18th 2021, 11:23 pm
Replies: 42
Views: 2,197
Posted By TonyJ1

Re: Reinvestment after sale of property

I would do the sale earlier - be careful playing with dates - easily missed due to unforeseen circumstances - but only leave country into the new tax year in order not to have to declare sale in the...
Forum: Portugal
Sep 18th 2021, 8:01 pm
Replies: 42
Views: 2,197
Posted By TonyJ1

Re: Reinvestment after sale of property

I think you misunderstand tax laws - all tax systems have anti abuse / anti avoidance clauses in their laws. Generally if the transaction is genuine, then there will be no problem and no challenge....
Forum: Portugal
Sep 18th 2021, 12:21 am
Replies: 42
Views: 2,197
Posted By TonyJ1

Re: Reinvestment after sale of property

I would say that selling within one year, specially in Portugal would be a high risk transaction - could be attacked under tax avoidance provisions - though if the sale (second sale) was for...
Forum: Portugal
Sep 17th 2021, 5:46 am
Replies: 42
Views: 2,197
Posted By TonyJ1

Re: Reinvestment after sale of property

If I could see through the looking glass, I would be a millionaire.
The tax authority does not hold money in trust.
Forum: Portugal
Sep 17th 2021, 5:32 am
Replies: 42
Views: 2,197
Posted By TonyJ1

Re: Reinvestment after sale of property

If you intend to reinvest, the capital gain is suspended - it is the taxpayers declaration. If no declaration is made, then the Tax authority will issue a tax declaration and it will be under the...
Forum: Portugal
Sep 17th 2021, 5:28 am
Replies: 42
Views: 2,197
Posted By TonyJ1

Re: Reinvestment after sale of property

If the lawyer held the money, it was not under any law, but he could have done so if he was the fiscal representative and wanted to make sure that there were no hidden tax liabilities. However the...
Forum: Portugal
Sep 17th 2021, 5:25 am
Replies: 42
Views: 2,197
Posted By TonyJ1

Re: Reinvestment after sale of property

All I know is that this has been used with HMRC, and with at least one Nordic country. In the case of the UK, in at least one case the values were less than €10,000
Forum: Portugal
Sep 17th 2021, 1:03 am
Replies: 57
Views: 4,303
Posted By TonyJ1

Re: Unexpected tax document

It is the simplified version, but there are too many ifs and buts for anybody to give a general overview. The short answer 'it depends'
Showing results 1 to 25 of 418
 
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