2020 Update, Non-habitual tax residency programme

The vote on the 2020 Budget amendment to the non-habitual tax residency programme was approved in the Portuguese Parliament yesterday evening by an overwhelming majority. In summary, the amendment will result in new Non Habitual Tax Residents paying 10% tax on their pension income.

New NHRs are defined as NHRs registering after the new law comes into force, which is likely to happen in the coming weeks. The next step in the process is for the entire Budget to be subject to a final vote tomorrow.