PORTUGAL Tax Breaks Are Ending Is This the END of the DREAM?

[@juanp.m.7524]

come to Spain, even cheaper than Portugal in some areas, check the Granada coast, and you can have a swim at the beach without freezing yourself like in Portugal

[@user4name]

what about wages , income?

[@Daphna.]

I’ll certainly come visit

[@harryman8378]

Very good 👍 I really enjoy your videos. I’m in my early 60s and going through big changes in my life. So your videos really inspire me. Keep up the good work. 😊😊😊

[@Daphna.]

Its great to hear that my videos inspire you. I appreciate your kind words

[@diane7534]

I visited Portugal for the first time this year ... and fell in love with it. I'm seriously thinking about spending more time there, but not totally sure yet. Really appreciate your channel as it's helping me to take steps towards a decision. Definitely going to visit it again in 2024, so we'll see! Thanks so much for the info - keep it coming! From Johannesburg, South Africa

[@Daphna.]

Hello Diane from Johannesburg (: Thank you for taking the time to write. I appreciate your kind words and am delighted to hear that I've inspired you. Best of luck on your adventurous journey!

[@gordonsivell6514]

I enjoyed learning from your post. Thank you very much.

[@Daphna.]

Glad it was helpful (:

[@paesDalmeida]

If the Portuguese pay taxes, why shouldn't you pay?

[@Daphna.]

Exactly

[@zeroceiling]

Wouldn’t that be because you pay taxes on your income in your country of origin..and life-long employment? Taxes in Portugal should be those paid on goods and services purchased. If you purchase healthcare..well you pay monthly for your health insurance as you may at home. That goes for everything from buying gas to groceries. For example, in Canada..70% of every liter of gas or diesel pumped into your vehicle…goes to repair and build new roads and bridges…as well as subsidizing mass transit. So whether you are a tourist or local..you are paying to pay for Canadian infrastructure. I’m I being too simplistic on this?…I feel I might be…what do you think?

[@zeroceiling]

@@doublewhopper67 ..Well…you are definitely not earning income there…you have earned and paid income tax on income let’s say earned years ago in UK..or Canada…so how would that even work? What would they base your tax rate on and why? We all pay secondary tax (particularly VAT) on everything from food, alcohol to electricity, for the use of roads…all through the purchase of fuel or even just a bus / train tickets) etc.

[@hs2000uk]

If you have moved you’re residence to Portugal or any other country you should pay the same taxes as any other person . You should not have exemptions just because you’re a foreigner. There’s taxes agreements between countries to avoid double taxation. So you should pay full taxes in Portugal and not the country were you’ve came from. That’s what’s called fiscal justice. It’s not just paying taxes as a consumer and everything is ok. Living in a country is not just take the good part ! But you ‘re right in one thing … you are just taking advantage of the unfair politics the Portuguese government as created for it’s own citizen in comparison ton foreigners .

[@thatwhit1]

Because the Portuguese don’t pay that much in taxes….

[@harryhall197]

Thank you Daphna. As always, a lovely video with excellent information. Much appreciated, thank you.

[@Daphna.]

Such kind words. I appreciate your support 🙏

[@mpinkchristofalo]

What a great video! Informative and well made... Bravo 👏👏👏

[@Daphna.]

Thank you for your kind words

[@Bocca202]

Daphna, thank you for providing information on the possibility of retiring abroad. I want to learn more about options. Information is a key.

[@Daphna.]

Thank you for taking the time to comment and for sharing what you liked about this video. This really helps figure out what you guys like to watch

[@Scott.Silburn]

Thank you, Daphna... 🙂 I'm thinking of going there so wondered if there was something bad you knew! 😅 Keep up the good work!

[@Daphna.]

thanks for these nice words❤️

[@luiz576]

Make some research about south brazilian states and come to visit us, for some time. Twelve hours flyght, non-stop, from Lisbon to Porto Alegre, by TAP. I assure you, it would be a good experience, kind of cheaper than Europe. There are some cities like Gramado, Canela, Nova Petropolis that have an european quality of life. Its an italian and germany immigrant region, so maybe you will recall something of your ancestry (I´ve watched about it in one of your videos). Actually, my grandparents also came from Italy around 1934.

[@Daphna.]

Very kind of you to be so involved . I appreciate it🙏

[@BLaw707]

Good insight on the financial and tax implications of living in Portugal. Unfortunately, I’m not ready to make a move, but certainly a place worth visiting. I too like the peaceful places.

[@Daphna.]

It absolutely is a place worth visiting

[@365daysofjewelry3]

I hope you get to stay there! Looks beautiful!!

[@Daphna.]

It absolutely is! Beautiful and calm. Tnx for your comment 🙏

[@user4name]

so you'r saying that as an expat, no need to move to portugal anymore?

[@Daphna.]

I’m actually saying the exact opposite 🤣

[@user4name]

but i am wondering about living as expat as eng with medicore salary such as up to 25-30k annual gross and reting in porto for single how to survive then in 2024 with without nhr ?@@Daphna.

[@ernstvandijk6342]

You are gorgeous, Daphna!

[@dough1968GMC]

Love your channel!!! Wish I could give you a hug!!!

[@Daphna.]

A hug for what? 😊

[@dough1968GMC]

@@Daphna. I Think because I need it lol!

[@Daphna.]

Don’t we all😊

[@williamdigiacomo8900]

someone needs to remind them that some of us pay taxes in both countries. 35%... if they raise the tax rate then some of us are paying 55% taxes. leaving will be the only option.

[@Daphna.]

That's an excellent point you're raising. From my own experience, there’s a tax treaty between countries to ensure you don't pay double taxation

[@antoniodasilva1230]

Portugal and the USA don't have a double taxation

[@robitmcclain6107]

I saw where Cape Verde was encouraging digital nomads to come for 6 months and maybe another 6.

[@tino1761]

Excellent vlog Daphna. How come you don't qualify for the NHR program?

[@Daphna.]

Thank you for your kind words 🙏 what I actually meant was that most of my income does not qualify for the NHR

[@scottmacconnell470]

I think the problem is politics as well as private investors and rental properties not individuals coming to live in Portugal. I don't really understand the thought that incoming retired foreigners have preferential tax regimes over locals. Do the Portuguese pay the progressive tax rate on their savings withdrawals? If we pay that on our 401K which is savings, we are paying a lot more. Why do we keep referring to retirement savings as income. It is income from the past but should we pay taxes on past income from 1980? I could see paying the percent gain of the amount withdrawn for the past year.

[@Daphna.]

Thanks for sharing your thoughts. Which alternative approach to taxing would you consider to be a fair?

[@comrade916]

It should be noted that the NHR 10 percent flat tax was only valid for 10 years..After that, an individual (tax resident) of Portugal would pay "normal" Portugal progressive income tax rates..

[@Daphna.]

True, and adding to your comment- the NHR has been stopped lately

[@Scott.Silburn]

Thanks for your interesting videos... I'd love to know if you ever considered moving to Australia and, if so, why you rejected it?

[@Daphna.]

I absolutely love Australia, but it would be too far off from my family. Tnx for your kind words ❤️

[@leaodaestrela5250]

If you only came here for the taxes then maybe you need to rethink your future. But if you came because of there million things that makes us special, than stay. You are super welcome. Our country is open to all who like it

[@Daphna.]

If you watched the video you probably noticed I said Portugal is so much more than tax benefits

[@jw841]

To everyone on planet earth taxes are super important and can mean the difference between a good life or a poor life. Anyone that does not consider taxes when moving abroad in my opinion are either very foolish or very very rich. I moved my business out of Portugal because of the taxes. Best thing I ever did and I've gone from living an ok life to living a fantastic life. Taxes matter alot.

[@michaelfitzpatrick6264]

A few months ago you said Portugal was the third safest place in the world to?

[@Daphna.]

Went down to sixth place. But still very safe

[@michaelfitzpatrick6264]

@@Daphna. any reason why the decline I fully accept it’s still very good though ?

[@Daphna.]

Immigrants 😊

[@michaelfriedman2221]

How does this impact people living off their investment income with little or no pension?

[@Daphna.]

It also depends on the location of their assets, if it’s in Portugal or elsewhere, but best to consult with an accountant because each case is different

[@JohnMillar5312]

It’s happening in Australia also. Foreign buyers buying up in the cities, now medium house prices are over $1 million.

[@Daphna.]

Thanks for sharing your perspective! It's fascinating to see how foreign buyers impact housing markets in different parts of the world 🌏🏡

[@michaelhaardt5988]

Your background on why the golden visa and the NHR program were established are right: Portugal screwed up before the financial crisis and needed to import liquidity. But you got some numbers wrong: The tax system is progressive, so you do not pay the full rate on all income, but each rate for the limit up to the next one. Then there are various tax exceptions. There is an income tax simulator, google "simulador irs" to see the effective rate. It is about as high as Germany, it is higher than with NHR, but by no means as high as often falsely claimed. On the other side, NHR does not except capital gains, which are taxed at 28% with and without NHR. You mentioned the immigrants and only 29400 of them are currently under the NHR scheme and 50 make up one third of the "lost" taxes. The price increases are real, but that happens in many countries and is not related to NHR. The gouvernment caused the housing situation by mad bureaucracy regarding building changes and mad selling taxes, so many people just leave old buildings empty and uninhabitable, and that is not addressed.

[@Daphna.]

I so resonate with your perspective. The beauty of those abandoned houses holds so much potential, but renovating them can be an expensive adventure. It would be wonderful to see more support and initiatives in place to preserve these treasures🏚️💖

[@as-1982]

Is that 20% Social Security tax is levied also to those under NHR regime?

[@KenHodge-v7i]

It's called real estate "GREED". The local real estate are charging more to make more money and sticking it to the locals in the long run. Expats aren't the problem, local greed is

[@Daphna.]

Thanks for sharing your perspective. Real estate can be a complex 🏡✨"

[@luisfilipe534]

No greed in the foreign real estate speculation in Portugal? Who are suffering the effects of that greed?

[@antoniodasilva1230]

No it's not how are you going to explain the real-estate situation around the world expats are a drop in the bucket tiny part of the emigrants living over why get a free ride at the cost of the others

[@KantoCafe715]

I live in Japan. I am from the UK. When it comes to living in a country , tax is the last thing I would ever consider. So soulless. I would pay over the odds tax to live in Portugal. 😅

[@Daphna.]

You’re living the dream already girl😊 where in japan are you?

[@KantoCafe715]

@@Daphna.Aww thanks. Tokyo

[@Luckyraindrops]

@@KantoCafe715, love the freshness of the food in Japan. Beautiful landscapes in the country. My heart goes out to the people of Japan right now for the catastrophic events that happened recently. Prayers to the people in Japan.

[@KantoCafe715]

​@@LuckyraindropsThank you. I agree that those things are amazing here 🧡

[@georgepiteira7586]

The NHR program should have been implemented for all Portuguese citizens, national, and foreign investors. If the government wants to help it's citizens, let the people keep more of their hard-earned money so that they can save, invest, and thrive and cut out the wasteful bureaucratic inefficiencies and regulations that are unsustainable and counter-productive to the nation and it's people. Great VLOG Daphna!

[@luisfilipe534]

Agree.. all paying equal taxes. Not just locals

[@Daphna.]

What a great thing that could be-applying the NHR to everyone. Great idea George!

[@marioneto9642]

Hi Daphna You are also discovering the incredible Portuguese food. It's one of the reasons why people from abroad love this country. Once again, welcome and enjoy our country. It's also yours!

[@Daphna.]

I'm absolutely loving the Portuguese food - it's truly incredible 🇵🇹🍽😊

[@duncansmith7562]

Yet Portugal has so much tax revenue flowing in that it can afford to send aid to Ukraine in a futile war that goes on month after month.

[@Daphna.]

Its very sad that at this day and age wars are still the way to solve conflicts

[@annahopp]

I hope they find a way to still attract foreign investors while stopping the AirBnB real estate madness. Especially affluent retirees with retirement withdrawals (not 'income') that are tax-free in the United States will invest elsewhere when faced with up to 48% tax. Imagine either keeping all of $100,000 if retiring in England vs. only keeping half when retiring in Portugal. I am sure the Portuguese government will find a smart solution without selling the country to foreigners.

[@Daphna.]

Unfortunately theres no easy solution in this case

[@panagope]

For me it's difficult to imagine a life that I will be a total stranger to a foreign country. Well maybe we are strangers even in our countries (loneliness epidemic) but we usually have our family , relatives and 1-2 friends ( at least). But in a foreign country you don't have even that. So what's the point to move ?

[@Daphna.]

That's a valid point, and I can definitely say it's on my mind. Making new friends in Portugal is actually easy because of the many foreigners and newcomers. So the expat community thing is strong. As for family, that's definitely a price

[@vasyapupkin8540]

Escaping the war for instance

[@as-1982]

You may not be happy to move, but some people like to move around. People have different values.

[@thomasj3421]

The Portuguese dream is already over? Oh god.

[@Daphna.]

Not so fast (: There's more to Portugal than just tax benefits

[@amrelbakouri775]

Hi, Daphna I think the inheritance tax in UK is 40% for properties over £500K. Need to look into that, tho. Nice vlog and nice to see you again.

[@Nubianette]

@@amrelbakouri775there’s no inheritance tax in Portugal. I was told this in a webinar with Expats Portugal.

[@Daphna.]

@amrelbakouri775 Hello! Thanks for bringing this up👋

[@sainta2667]

Daphna, it's boring as hell there. If it's over for you , you can say it and move on.. there are other destinations out there.

[@Daphna.]

Hello, I actually appreciate “boring” (I would call it calm). There’s too much going on in the world right now and I see Portugal as a quiet place

[@jorgegomez524]

Boring is cool

[@andrevilhena4149]

​@@sainta2667você é judia? Israelita? A escrita parece hibraico.Portugal nunca a atraiu? Que maravilha! É maravilhoso saber que há gente que cinsidera um país chato, aborrecido porque é um lugar de..paz...Quem vem de países sempre em guerra nunca poderão gostar ou se adaptar a Portugal porque lhes falta a adrenalina da destruição. Fiquem onde estão. ABRAÇOS E PAZ NA PALESTINA ONDE NASCEU JESUS.....

[@andrevilhena4149]

Adoro o meu país chato..kkkk...Para ação deve ficar mesmo em Israel ou ir viver para a Faixa de Gaza...Por lá terá muita ação, bombas a cair, clareiras no céu..enfim...

[@andrevilhena4149]

Correção: Hebraico