Portugal to Let More New Residents Be Eligible for Tax Break
- Government wants to attract more skilled workers to Portugal
- Tax break applies to income from work, not capital gains
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Portugal plans to allow more new residents to be eligible for an income tax break as it tries to attract skilled workers to the country.
The government wants a broader set of qualified professions and companies to be able to apply for the tax incentive, it said in a statement on Thursday. At the end of 2023, the previous government had narrowed the set of people who could benefit from the flat income tax rate of 20% over a 10-year period, saying it would be available for new skilled residents working in areas including scientific research and certain investments.