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A new tax system for Personal Income Tax (IRS) applicable to non-habitual residents, being effective as of January 1, 2009, was established in Portugal.
Directors, Managers and other human resources coming to temporarily reside and work in Madeira, may benefit from this new advantageous tax system.
A NEWMADEIRA’s client survey shows that 87% of the company’s clients acknowledge that it sets an excellent standard in its sector. As it celebrates its 20th anniversary, NEWMADEIRA could not have hoped for a better birthday present.
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TAX SYSTEM FOR NON-HABITUAL RESIDENTS
Decree Law 249/2009 establishes a new tax system for Personal Income Tax (IRS) applicable to non-habitual residents, being effective as of January 1, 2009.
Taxpayers who have become residents for tax purposes, but have not been subject to IRS as residents in the preceding five years, are considered non-habitual residents in Portuguese territory, obtaining the right to be taxed as such for a period of 10 consecutive years.
Net income under categories A (dependent work) and B (independent work) involving high added-value activities of a scientific, artistic or technical nature (see below) by non-habitual residents are taxed at the rate of 20%.
Income from category A (dependent work), category B (independent work) obtained from high added-value activities of a scientific, artistic or technical nature, from intellectual or industrial property, from the provision of information involving experience acquired in the industrial, commercial or scientific sectors, from category E (capital income), category F (rental income), category G (capital gains) or from category H (pensions), obtained by non-habitual residents from abroad, is exempt under certain circumstances.
Therefore, Directors, Managers and other human resources coming to temporarily reside and work in Madeira, may benefit from this new advantageous tax system.
If you would like to know more about this, please click on this link: tax system for non-habitual residents
NEWMADEIRA’S CLIENT SURVEY
NEWMADEIRA’s pro-activeness, honesty, efficiency and professionalism were recently acknowledged by its clients when, in reply to a survey, 93% said they would be very likely to recommend the company. The results of the survey also show that 87% are of the opinion that the company sets an excellent standard in its sector.
We would like to thank our clients for their vote of confidence. There could be no better way of marking NEWMADEIRA’S 20th anniversary.
NEWMADEIRA, an independent corporate services provider with a vast experience attracting inward foreign investment to Madeira, has provided since 1990 all professional services related to the evaluation, implementation and management of business-related structures in the International Business Centre of Madeira.
Please feel free to consult our website at www.newmadeira.com.
Should you require further clarification on the above or to discuss any other specific structure, do not hesitate to contact us.
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