Income Tax Rates Portugal 2020

Married couples in portugal must submit a joint return.

Income tax rates portugal 2020. Portugal s income tax rates for 2020 are as follows. The personal income tax rate in portugal stands at 48 percent. The maximum income tax rate in portugal of 46 00 ranks portugal as one of the ten highest taxed countries in the world. The income tax rates and personal allowances in portugal are updated annually with new tax tables published for resident and non resident taxpayers.

Portugal income tax rate. Surcharge is levied on the amount of income tax at following rates if total income of. 2 50 000 rs. If you qualify for the non habitual resident visa your income tax in portugal will be 20 or 0 depending on your type of income.

Non residents are liable to income tax only on portuguese source income which includes not only that portion of remuneration that can be allocated to the activity carried out in portugal but also remuneration that is borne by a portuguese company or permanent. Portugal 2019 income tax calculator. A flat cit rate of 21 applies on the global amount of taxable income realised by companies resident for tax purposes in mainland portugal also applicable to portuguese pes of foreign entities. The tax tables below include the tax rates thresholds and allowances included in the portugal tax calculator 2020 portugal capital gains tax calculator.

Countries with similar tax brackets include austria with a maximum tax bracket of 50 00 belgium with a maximum tax bracket of 50 00 and united kingdom with a maximum tax bracket of 50 00. 5 00 000 5 5 rs. 10 00 000 20 20 above rs. Income tax corporate compliance for corporations.

This page provides portugal personal income tax rate actual values historical data forecast chart statistics economic calendar and news. Portugal income tax calculators. 10 00 000 30 30 surcharge. As a tax resident of portugal you have the obligation to file the necessary forms every year prior to april 30 unless you are an employee of a company in portugal.

In that case you must file by march 15. To calculate the relevant tax rate the couple s collective income is divided in two. Income tax rates in portugal are progressive meaning you pay more tax the more you earn. Net income range rate of income tax assessment year 2021 22 assessment year 2020 21 up to rs.

You can find a comprehensive list of tax credits and allowances in 2020 for portugal used in the portugal tax calculators here. Personal income tax rate in portugal averaged 43 50 percent from 1995 until 2020 reaching an all time high of 48 percent in 2013 and a record low of 40 percent in 1996. Residents in portugal for tax purposes are taxed on their worldwide income at progressive rates varying from 14 5 to 48 for 2020. Portugal s rates for individuals in 2020 are as follows.

The standard cit rate is 20 in the autonomous region of madeira and 16 8 in the autonomous region of the azores including pes of foreign entities.