Unlocking Tax Benefits: Which Professions Qualify for Portugal's New Tax Incentives?
The Portugal News6 months ago
970

Unlocking Tax Benefits: Which Professions Qualify for Portugal's New Tax Incentives?

Economy
taxincentives
portugal
economy
highlyqualifiedprofessions
ifici+
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Summary:

  • New Tax Incentive replaces non-habitual resident regime in Portugal.

  • Eight highly qualified professions identified for tax benefits.

  • Registration until March 15, 2025 for new residents in 2024.

  • New 20% IRS rate for qualified workers in scientific research.

New Tax Incentives in Portugal

The previous regime for non-habitual residents (NHR) has been replaced by the Tax Incentive for Scientific Research and Innovation (IFICI+). This new framework aims to attract highly qualified professionals to Portugal.

Tax Incentives

Eligible Professions

Under the IFICI+, the Portuguese government has identified eight highly qualified professions eligible for tax benefits. These professions are listed in an ordinance published in the Official Gazette of the Union and include:

  • General director and executive manager of companies
  • Directors of administrative and commercial services
  • Directors of production and specialized services
  • Specialists in physical, mathematical sciences, engineering, and related techniques
  • Industrial product or equipment designers
  • Doctors
  • University and higher education professors
  • Specialists in information and communication technologies (ICT)

Registration Process

As stated by the Minister of Economy, there is a transitional regime allowing new residents in 2024 to register for tax benefits until March 15, 2025. Following this initial year, the registration deadline will shift to January 15 for those who became residents in the previous year.

Tax Rate Details

The new tax regime aims to attract qualified workers, particularly in scientific research, applying an IRS rate of 20% on income from both dependent and independent work (categories A and B).

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