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Portugal to end tax breaks for foreign residents after angry protests

Summary by Ground News
The scheme was introduced in 2009 to attract foreign capital after the global financial crisis hit Portugal. It allows people who become residents by spending more than 183 days a year in the country to benefit from a special 20 per cent tax rate on Portuguese-sourced income. The Socialist prime minister has pledged to ditch it, blocking new applicants in 2024.

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The TimesThe Times
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Portugal to end tax breaks for foreign residents after angry protests

Portugal will end tax breaks for foreign residents in a bid to alleviate a housing crisis that is stoking popular anger. Calling the scheme a “fiscal injustice that is no longer justified”, António Costa, the Socialist prime minister, pledged to ditch it, closing the scheme for new applicants in 2024

·London, United Kingdom
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The Times broke the news in London, United Kingdom on Wednesday, October 4, 2023.
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