Paying TAXES in Portugal | What We Did & What You Should Avoid

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Hey Expats and Travelers! It's Josh and Kalie from Expats Everywhere! Today we will be going over the whole tax paying system in Portugal. What are important dates? What is NHR? How do I file in Portugal? How do I pay taxes? Watch the video till the end to find out the process and learn everything you need to know about tax rate, tax residence, and many other beneficial things. Don't forget to subscribe and leave a comment below.
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Josh and Kalie left the US for a life abroad in 2009 and haven't looked back. They have lived in Spain, South Korea, Saudi Arabia, Singapore, and are currently in Portugal. Yes, they realize they only moved to countries starting with the letter "S" until they spoiled that streak with their move to Portugal. Follow ExpatsEverywhere as we aim to get information to you through expat interviews, city breakdowns, expat life, travel, vlogs, and more.
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Опубликовано:

7 сен 2024

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@paulogarciadesousa 2 года назад

A friendly piece of advice to everyone: Remember to ask for a proper invoice with your NIF on it, even for purchases such as a couple of espressos with pastéis de nata. And regularly log onto your AT profile to validate those invoices. And why bother, you ask? Because you can deduct 15% of the VAT you paid on each invoice, up to 250€ per each taxable category (there’s more than one, such as “common commodities,” “hospitality industry,” “veterinarians,” “healthcare industry,” etc.). True story: I was able to shave 500€ off of what I owed in 2021 taxes. Trust me: It’s easy; it works.

@tatianaschoenfield9819 2 года назад

Does one have to track it and submit the amount (with invoices) paid to the irs or does it happen automatically when we are invoiced with NIF?

@ppietrap3876 2 года назад

@@tatianaschoenfield9819 it should be automatic, at least it is the obligation of the business to keep their accounting in order and attach your NIF to the purchase. However with some small businesses it can take longer for them to fill all the information regarding the purchase.

@paulogarciadesousa 2 года назад

@@tatianaschoenfield9819 , it’s automated. One just has to manually validate the automated information and click on a couple of options that assign the invoice in question to one’s professional activity, partly or in full (or not at all).

@zzzaaalll Год назад

where do you check all the invoices where u gave nif in shops ?

@SHABSOL Год назад

@Paulo de Sousa Can you please share where can we validate the invoices inside AT portal?

@stevestarnes9198 2 года назад

I know everyone's tax situation is different, but I have been told by several sources (including accountants and financial advisors) that you should have your Portuguese taxes prepared first, get the automatic extension as a US citizen living abroad until June, then file your US taxes. Have your US tax preparer be familiar with the Portuguese tax treaty so you don't get double taxed, and they you can also get tax credits for what you already paid in Portugal. But as with all tax advice, get it from an accountant or tax attorney, and not from people who may be in a very different place, financially.

@ppietrap3876 2 года назад

I think that for that to work people would need to file their portuguese taxes in April, because it can take several weeks until you receive the portuguese tax invoice.

@hopoutside Год назад

I was thinking the same thing, else the U.S. preparer won’t know the $ amt of tax paid to Portugal, for the Foreign Income Exclusion credit toward the U.S. tax paid amount. Doing it the way presented in this vid, would need to do an amendment for the U.S. tax return to get the FIEC applied (to avoid double tax).

@tjclairmont1 4 месяца назад

My wife and I are following you and REALLY appreciate these videos. We'll be visiting in Dec to get a look around and do some personal research. We'll need some consulting time in the future and will look you up. The weather is nice in Virginia but the US is in a downward spiral and we don't want to get sucked down the drain.

@ExpatsEverywhere 4 месяца назад

Thanks for the message, TJ. We appreciate hearing that. Reach out to info@expatseverywhere.com whenever you're ready. I (Josh) am a Virginia boy and I can attest to the nice weather although I will say that Porto is nice too. It doesn't have the lows or highs of Southwest VA weather year round. It's grayer but not as cold or snowy. Take care and all the best. Keep us posted. - Josh & Kalie

@ShannaTrenholm 2 года назад

Depending on what you do-if you’re working as a self-employed person-the sole trader status and filing is USUALLY a better deal than NHR. I have NHR status, but as a writer/consultant (not making much money) I pay about 8% and I pay into the SS system here, but, I will no longer pay into the SS system in the states (per the tax treaty). NHR is advantageous for those who live on dividend income, retirement benefits, rental income (considered passive), or have a foreign (US) corp and take dividends instead of a paycheck. This is definitely one of the most stressful parts of living here, but once you get into the flow, it’s not to bad! :)

@ExpatsEverywhere 2 года назад

That's right and a specialist can set people up to be the most tax efficient and within the law. We're definitely looking at going to corp route. We did not like our tax situation on the US side. - Josh & Kalie

@erinrockofficial Год назад

What about w2 us employee?

@tomseyes 2 года назад

If you live in Portugal and work as an independent/contractor and earn over 20k Euro p/year the best thing and easiest thing to do is open an activity with Finanças, do green receipts (standard self-employed in PT) and also register for the NHR scheme so you can benefit from paying a flat rate of 20%. If you earn less than 20k Euros per year you have no need to be on the NHR scheme unless you are retired with a pension or you have a company that operates in another country that pays you dividends because the the PT tax rates will automatically be less if you earn under 20k Euros. That said, your line of work as an independent would still need to fall into a high value category defined within the NHR scheme. To my surprise though, when they do the end of year calculation and take into account expenses through out the year my effective tax was more like 12.5% of my gross income - so very happy with that! That doesn't include SS which has an effective rate of 15% for a self-employed person in PT after calculations, but you don't pay anything in the first year of your activity so that's nice. So all in once you are in your 2nd year of activity and on NHR for both tax and SS im paying less than 30% of my gross income on modest yearly earnings, I save 35% each month which means I even get a nice savings pot at the end of year which is a bonus. Plus being VAT registered in Portugal when you earn over 10k Euros means you get VAT back on all purchases relating to your activity and have expensed through e-fatura with your NIF. And if you have overseas clients you don't charge them VAT on invoices (you do the reverse charge procedure) so they never pay VAT on your invoices and you never need to pass it on to the state - but you benefit from being VAT registered and claiming VAT back on purchases! Win win win. And for UK contractors who would overwise fall into IR35 on their contracts if working from the UK, well if you are not a UK resident than IR35 does not apply to you.

@AliHaider55 Год назад

Hi Tom, I am a freelancer (I work at UpWork). got my residency card this year... can we have a chat? I am getting mixed information from the web and am very confused with all the information I got. can you help me with answering a few questions about NHR and tax systems? Thank you

@nGons Месяц назад

@@AliHaider55 Same. We're in the same boat. Did you get your questions answered?

@moward301 2 года назад

This information is GOLD!!! Thank you so much for sharing! As always, great job! Thank you!👍🏾

@ExpatsEverywhere 2 года назад

You are so welcome! Thanks, Mo! 💪 - Josh & Kalie

@jetfowl 2 года назад

NHR is a 10% tax rate, not 20%. (or did that change again?) Also, it's really important to read the Dual-Tax Agreement between your original country and Portugal (like the US-Portugal DTA). It's not a very long document to read and it's broken up into sections, so you can focus in on what affects you.

@ppietrap3876 2 года назад

10% for retirees, 20% for people with income from high value jobs.

@ExpatsEverywhere 2 года назад

It changed in 2020. A lot of what's covered in NHR is 20% but again speak to a tax specialist for planning your income. In fact, speak to a couple. - Josh & Kalie

@alvaropachecosilva 2 года назад

10% is for pensions only. Other income is 20%.

@trave7644 2 года назад

Wow, has been looking for this for a while. Thanks so much.

@Yasin_Affandi 2 года назад

Thanks for sharing this video n for sharing your experience with fulfilling d taxes in Portugal.

@Yasin_Affandi 2 года назад

Time flies when u r having fun n time also flies when u procrastinate, hehehe.

@ExpatsEverywhere 2 года назад

🤣 Indeed time does fly. We're 2/3s of the way through this year. - Josh & Kalie

@Yasin_Affandi 2 года назад

@@ExpatsEverywhere 😁

@Hello_Pri 2 года назад

Great information to know, thank you! I had no idea it was quite so complicated. Glad you got everything done (and as a fellow procrastinator, this was very relatable!).

@ExpatsEverywhere 2 года назад

Hey Prinyanka. It's not really that complicated. Sorry it came off that way. The reality is if you get a tax specialist on both sides (PT and USA), then they can guide you and it's a matter of getting them the correct paperwork and letting them fill in the correct boxes...at least for your first year. - Josh & Kalie

@Hello_Pri 2 года назад

@@ExpatsEverywhere Thank you!

@cookmaster3626 2 года назад

Great Video. I am always a late Tax filer with Extension and do my taxes before the Extension dead line in October. If Portugal requires filing by June 30, and that should include the US filing, then it requires that US filing be made promptly w/out extension.

@theresewheeler1498 2 года назад

Geez what a nightmare … do you pay taxes for Portugal and US

@cookmaster3626 2 года назад

@@theresewheeler1498 - I am not in Portugal yet. Considering a D7 visa. My late filings with extension in US is because i have an income from another country and this 3rd country would make it even more complicated. I have been considering now instead of a D7 using the Schengen Visa 90/180 day rule to split the time between Schengen and non Schengen zone so dont have to deal with a 3rd country tax regimen.

@ExpatsEverywhere 2 года назад

Thank you, cook master. We filed with an extension because April 15 is the normal tax day and we really got the ball rolling late May through June. - Josh & Kalie

@ExpatsEverywhere 2 года назад

We need to but our US taxes on personal income were pretty minimal and most of it was business related. - Josh & Kalie

@wisnomjr Год назад

You two are amazing. And I say that with respect. Your videos are so helpful. I am using the same Tax Man that you recommended.Stephen is great, and I’m so happy I found him, because of your video. Keep it up! We love you.

@ExpatsEverywhere Год назад

Hey, man! Thank you very much again. We're happy to read your feedback here. Stephen did us a real solid, which we actually talk about on our most recent podcast episode. We needed to rush to get our taxes done to finish our mortgage application for the property loan here in Portugal and Stephen and his team expedited our stuff. Thanks for the love! We send love back. - Josh & Kalie

@miamijames 11 месяцев назад

Could you please his info. I am looking for someone that knows the Nhra.

@tebbywafer1665 2 года назад

Here is a tax question I have not seen any of you in Portugal answer. How does Portugal treat my Tax-differed and Tax-free account from the U.S. (Ira, 401k, Roth Ira)? I saw your tax series and I did not hear that question. Thank you

@ExpatsEverywhere 2 года назад

Would you like to speak to a tax specialist? We can refer you to some. Email me at contact@expatseverywhere.com - Josh & Kalie

@wisnomjr Год назад

Thanks!

@ExpatsEverywhere Год назад

Hey, Jeffrey! Thank you very much for the channel support. We really appreciate it and it goes a long way when viewers do this. Cheers! - Josh & Kalie

@BrMg01 2 года назад

2.02 you killed it man! what a move ( reminds me of parkour office scene ) :) love your videos!

@ExpatsEverywhere 2 года назад

Thank you. We were channeling our inner Casey Neistat but I should have had my glasses. 🤣 😎 Thanks for the love. - Josh & Kalie

@BrMg01 2 года назад

@@ExpatsEverywhere hahahahaha love it! 😂

@ElwoodPDowd-ed7pc 2 года назад

Congratulations you guys! Nice to make the effort and feel the satisfaction at the end. Off to another fiscal year, yes?

@ExpatsEverywhere 2 года назад

Thank you, Elwood! 😁 Yes and yes. Off to another fiscal year where we'll be better prepared. - Josh & Kalie

@jesustarifa3518 Год назад

Thanks for the helpful video!

@ExpatsEverywhere Год назад

Glad it was helpful! - Josh & Kalie

@nguyenguy19 Год назад

Can you ask the lawyer on the 2022 court ruling that equity/stocks capital gains if taxes by US is exempt from Portugal taxes? Hope it set a precedent that others will enforce to avoid double taxation.

@terrisokolow7796 2 года назад

Glad you got the taxes completed!

@ExpatsEverywhere 2 года назад

Us too! - Josh & Kalie

@SWHulse 2 года назад

Great video and very informative. We just had our SEF appointment on August 18 so does our fiscal year begin on that date?

@droops63 2 года назад

That's actually really helpful. I had wondered if the tax accountants in the U.S. and Portugal would have to talk. I assumed that they did not, both sides just did their thing. Also, I'm curious as to why you didn't know what you owed. Obviously we know when we file in the U.S. I take it that that's not the case in Portugal?

@ppietrap3876 2 года назад

The system to file taxes is actually quite simple and effective for most people. Many can easily do it by themselves with many categories already automatically filled by the system online, and in the end it says the amount of tax - since in these cases people have already been paying taxes throughout the year it will also say the amount of money that they will get back or the extra they still have to pay to fulfil their obligations. If on the other hand you haven’t been paying taxes and have a more documents to file, I think what you get is just an estimate. You will have to wait for a confirmation that everything that was filed was accepted and correct.

@GazilionPT 2 года назад

The online system for filing your taxes has a simulator that is spot on for most people, but it is not perfected for less common situations. I think NHR is one of those situations.

@ExpatsEverywhere 2 года назад

Thanks, John. We asked them if it would be easier to connect the two. Matilde needed clarification on some things (income sources). The reason that we weren't 100% sure is because Matilde didn't know how the PT government would choose to treat a couple of the income sources, but moving forward we're going to assume that they'll treat it like they did for our 2021 filing so for our 2022 filing, we think she'll have a number for us. - Josh & Kalie

@ExpatsEverywhere 2 года назад

@ppietra p That's exactly what we're led to believe. We think that 2022 will be easier, faster, and more accurate. - Josh & Kalie

@ppietrap3876 2 года назад

@@ExpatsEverywhere pardon my curiosity, how many weeks did it take for them to send the invoice? Under normal circumstances it would take something close to 3 weeks after submitting.

@JanetPerrenod 2 месяца назад

Hi Kalie and Josh: Regarding paying taxes in Portugal, do we have to pay the taxes through our bank, or do we have to go through the Finance Portal of Portugal? We live in California but have an AL activity in Porto and have to pay taxes in PT as well. Any help is really appreciated as we are just trying to understand the process in PT. We really enjoy your videos and have visited some of the places you recommended as well. Thank you so much! Jan and George

@ExpatsEverywhere 2 месяца назад

Hi Jan and George, we paid from our Portuguese bank account to the account details provided on the tax invoice. On the actual invoice it tells you "where" to pay. Does that make sense? If you have any other questions, feel free to write Kalie at info@expatseverywhere.com and we wish you the best. 😁 Thanks for following our content. - Josh & Kalie

@JenShea 2 года назад

Excellent info! Super helpful. Note to self: Do Not Procrastinate!! Wish I had a video on how it works for Canadians… 😉

@ExpatsEverywhere 2 года назад

Hey Jen, we thought you've had a tax year here in Portugal, no? Thanks for watching and leaving a comment! - Josh & Kalie

@JenShea 2 года назад

@@ExpatsEverywhere not yet!!! :)

@BMAC5306 23 дня назад

Does the Tax Treaty disallow being taxed twice on capital income? For example, 28% in Portugal vs 20% in the US. I enjoy your videos and will be moving to Portugal in 2025.

@ExpatsEverywhere 15 дней назад

It's really best to check your specific situation with someone that understand the tax nuances between the US and PT as well as someone that knows the tax treaty. Thanks for watching our content. - Josh & Kalie

@pensionnewschannel5176 2 года назад

Shalom guys. Welcome to PT

@user-zh6om8ti5m Год назад

Great content! I got my NIF on september 2022 thru a representative, got my portugal visa approved on dec 2022 and then I landed on Portugal on jan 2023. My visa expired some weeks ago when I went to my SEF appointment for residency. Should I wait until I get residecy approved to request the NHR status?

@anadossantos1429 2 года назад

Yeah 👍 got it done 😊

@layla8647 2 года назад

Boy two residences & paying two taxes sounds like a nightmare 😬. Good thing u two have each other. If u only have USA income source, do u still pay Portugal 🇵🇹 taxes just for been a resident there? If yes, WHY?

@pauladosch7062 2 года назад

Portugal taxes residents on their worldwide income. Residence based taxation is a very common system. Territorial tax is less common, only a few countries, and you only pay taxes if you work in the country. The US is a citizenship based tax system that is very rare, only 1 other country uses this system, Eritrea. There is advocacy to tax US expats like residence based taxation pending before Congress and the courts. The US tax situation for expats gets extra complicated because of FBAR and FATCA.

@ExpatsEverywhere 2 года назад

Hey, Layla. It's really not that bad but it's also the price you pay to play the game. Yes, we do pay PT taxes but we don't get double taxed on the same income. - Josh & Kalie

@Uwandreduplooy 2 года назад

Thanks for the information! Could you possibly share the company/persons information that you guys use for your taxes in Port? I had a look at your video on Taxes from a year ago and seems like you are using someone else now? TIA

@ExpatsEverywhere 2 года назад

Hey, shoot us and email and we can do that. Contact@expatseverywhere.com - Josh & Kalie

@VanyBunny2010 Год назад

Hey - thanks for the video :) I am sorry if I missed it but did you have to move in the end or was it OK that your apartment wasn't registered?

@ExpatsEverywhere Год назад

You're welcome. We stayed. The owner registered the apartment. - Josh & Kalie

@dzidmail Год назад

2:40 I just file the tax even though my address is not properly registered with financas as a rental.

@ExpatsEverywhere Год назад

All the best. - Josh & Kalie

@BasicBeachCommunity1 Год назад

Doesn't their tax rate include health care as well??? So basically in the States you pay separate for everything.

@marcosdebrito2028 Год назад

We are moving to Portugal: We have a small pension from USA and income from a few rental apartments, We are confused about the tax that we are going to need to pay here in the USA and in Portugal, Could you please explain it to us? Thank you so much,.

@user-bn8sq7el6m Год назад

Hi guys. Can you share Mathilde’s information? I just found out I have to file an amended return because my Portuguese accountant screwed up.

@ExpatsEverywhere Год назад

Hi, could you email Kalie at info@expatseverywhere.com and she can give you recommendations on a couple options. - Josh & Kalie

@ninarosaphotography2039 2 года назад

Thanks for the info

@ExpatsEverywhere 2 года назад

You're welcome. - Josh & Kalie

@ninarosaphotography2039 2 года назад

@@ExpatsEverywhere 🥰

@Carolinapetroska Год назад

The postal delivery mail system is really inefficient. I keep on receiving previous tenants' mail. I even took the time to write on the envelop that those people don't live here anymore but those stupid employees keep on delivering their mail to me. so now not knowing what to do with all this mail. I just throw it in the garbage. Hey after all it's not my fault if the previous tenants didn't do their change of address after 2 years and if they don't want to pay their bills......

@WrldExplorer Год назад

Hey everywhere expats. I know you said that pensions are taxed at 10%. Does it depend on Private pensions or government pensions?

@ExpatsEverywhere Год назад

This is where it can get sticky because we've heard that government pensions might still be taxed in the home country and then get taxed at 10% here. It's probably best to talk to a specialist. - Josh & Kalie

@WhyYouTrippin Год назад

Is RU-vid AdSense income taxed under the NHR Regime at 20%? Or is it not taxed because it's considered foreign royalties?

@ExpatsEverywhere Год назад

In our case because ExpatsEverywhere RU-vid channel is a part of a registered business (State of TN) that is ExpatsEverywhere LLC, it's taxed in the US. We pay ourselves a salary. We're looking at changing our business structure and going the Corp route. - Josh

@ginasmith2484 2 года назад

Good Video

@ExpatsEverywhere 2 года назад

Glad you enjoyed. - Josh & Kalie

@TheAshoka2009 2 года назад

What is NIF? How and for what?

@ExpatsEverywhere 2 года назад

Think of a NIF like a Tax ID number. You need it to live in Portugal, to do anything financial (get a bank account, buy a house, get a loan...). The easiest way to get it right now is to have a company obtain it on your behalf. We recommend a company called Bordr.io for it. Here's a discount link they gave us for our audience. www.bordr.io/?via=expatseverywhere - Josh & Kalie

@teriw5726 2 года назад

Y’all stressing me out 🤣

@ExpatsEverywhere Год назад

We were stressed out. 2022 will be different. Famous last words we know but seriously, it'll be different. - Josh & Kalie

@cal9112 9 месяцев назад

So you file for taxes in the country you live and double taxed in the States too? Great country, no health care, no safety net, no safety in the streets,... Great country!!

@rafaelmarques5118 Год назад

The Gold Visas ended.

@kilgary 2 года назад

Your stills says “We Paid This” but then you don’t say what you paid. Was it indeed 20%? 20% of what income? The RU-vid channel work? Wasn’t that already taxed in the US?

@ExpatsEverywhere Год назад

It's true though, we paid that little envelope right there. That was the "bill" we paid. We didn't say, this is HOW MUCH we paid. 😁 The vast majority of what got taxed was Kalie's 1099 job. - Josh & Kalie

@cmdv42 6 месяцев назад

what %?

@ExpatsEverywhere 6 месяцев назад

Our % and your % would surely be different because of income sources and amount of income so the % wouldn't be helpful to know. - Josh & Kalie

@TheAshoka2009 2 года назад

Nif portal where to get it?

@ExpatsEverywhere 2 года назад

The NIF portal is where you can login to view different things tied to your NIF but first you need a NIF. - Josh & Kalie

@sandrasingh4963 Год назад

Please could me the name of the health insurance broker

@ExpatsEverywhere Год назад

Hi Sandra, email Kalie at info@expatsverywhere.com and we'll get you a few links and info. - Josh & Kalie

@sandrasingh4963 Год назад

I love your videos. I am on D7 visa. Not working in Portugal. Do I have to pay tax.

@leoliral Год назад

Can you share Matilde’s contact ? I already done the US taxes and need an accountant in Portugal that understands de process… Thank you in advance

@DiogoF. 2 года назад

Last day today to pay your IRS. 🇵🇹

@ExpatsEverywhere 2 года назад

That's right! - Josh & Kalie

@Khan-xo8yp Год назад

OK send me soon

@trave7644 2 года назад

Sorry, but did you mention it it was a lot since you had to pay US taxes as well? I dont you probably dont wnat to say the exact amount.

@ExpatsEverywhere 2 года назад

We don't want to say the exact amount, no. We probably share too much of our personal finances online to be honest but most of the taxes we paid to the US were though business income. Remember that our situation is fairly atypical. We run an online business so our income is viewed very differently to someone living on a pension or their retirement account or rental income. - Josh & Kalie

@trave7644 2 года назад

@@ExpatsEverywhere thanks. Do you think you paid more in taxes because you were in Portugal as opposed if you had been just living in the US? In other words, was it more less the same amount you would have paid if you have just stayed in the US?

@pures1n 2 года назад

do you have to pay taxes on your US rental units in Portugal? Also what about Crypto and dividends?

@ExpatsEverywhere 2 года назад

We didn't personally but that doesn't mean that the same will go for everyone. There are write-offs and deductions that take place as you know. It's best to consult a tax specialist and go over your numbers with them. Let me know if you'd like us to refer you to someone. Email me at contact@expatseverywhere.com - Josh & Kalie

@isaacamrani966 11 месяцев назад

Sorry,but I prefer to hear Josh speak…, the voice and accent of Kalie is a bit hard to understand , Get my apologies

@ExpatsEverywhere 11 месяцев назад

I feel you, man. - Josh

@minihelpconsult 2 года назад

Why you guys don't have a lawyer??

@dougharris4853 Год назад

Honestly TAX everywhere is complicated. I just wish we could revolutionize tax collection. For example, no more tax as you earn - but a tax that works through your bank account. Then as a pecentage of your outgoings the Bank passes this to the Government to do their thing. This way you pay tax in the country that you reside always.