Tax Expert Services to Expats .... or not.

Good evening,

I have a friend that has a Tax Consulting company and he's thinking about directing the services (also) to expats in Portugal, who may need tax advice or help in the relations with the 'finanças'.
Do you think it's a good idea, or it's a service expats just don't need?
Thanks in advanced.
Yours


PC

We have been resident in Portugal for more than 6 years and are taxed on our pension here. This year our tax went up by a huge amount despite the fact that our income was only slightly higher than the previous year. Have tax rates gone up so dramatically in Portugal. Does anybody know or have an accountant who speaks English, German or Dutch who could explain it to us? We speak Portuguese but finance is too technical for our language skills.
Ilonah

Hello Ilonahalliday,

In fact there were some changes on the IRS, last year.
One os the most 'damaging' was the "over-tax" (sobretaxa), that in some cases result in a considerable increase of the IRS.
And for 2012 there are more sad surprises and pensions will suffer more taxation.
As for the finanças .... well, they will hardly explain it to you. For that situation, is over theys competencies (obligations).
If you have a more specific question, just post it on (there are not much general cases. Each situation have it's own specificiies.
Feel free to ask
Cheers


Pedro Cruz

we are considering retiring to portugal. can anybody explain to me the double taxation treaty between the european union  member countries?
thank you.

Hi msmacnevens > just to inform you that this is an old topic. You may want to start a new one on the Portugal forum. Thank you :)

Which specific countries are you looking at. Portugal has signed Double Taxation Treaties with all the European Union countries bar Croatia. See useful links in expatconsultportugal.com/virtual-library/ for the Double Taxation Treaties.

Taking expert advice prior to moving to Portugal can save valuable time and money and reduce the likelihood of making costly mistakes.

thank you!

I live in USA and I am looking to retire with in the next year. I am interested in living in Portugal and applying for Non Habitual residency. Question I am a public school teacher and will be receiving a governmental Pension from the State of Pennsylvania. I will have the option with a one lump sum plus monthly pension payments. Here in the state of Pennsylvania we do not pay State Tax on our retirement. If I meet the requirements of a NHR will I still have to pay Federal Income tax to the IRS (United States) and pay Federal income Tax on anything I with drawl from the one lump sum annuity. Also will I have to pay federal income tax when I start receiving Social security benefits.

I would appreciate anyone in a similar position please help clear things up for me, Thank you.