A new year has begun, bringing with it important fiscal obligations. Here is a detailed breakdown of the critical deadlines for submitting IRS declarations in 2025, pertaining to income earned in 2024. By January 31, 2025 Declare rental income: Ensure all rental income is reported on the Finance Portal, covering: Rent agreements, Subletting arrangements, Other…

When Does the New IRS Jovem Take Effect? The new IRS Jovem framework came into force with the 2025 State Budget on January 1, 2025. What Changes With the New IRS Jovem? The revamped IRS Jovem introduces four key updates: Increased Age Limit: The maximum age rises from 30 to 35 years. Extended Benefit Duration:…

When it comes to taxes, you’ve probably heard about IRS brackets and their annual updates. Often confused with withholding tables, these two represent distinct fiscal responsibilities. Curious to understand the difference? Let’s explore the 2025 updates and find out if you’ll receive a refund or owe more taxes. What Are IRS Brackets? IRS brackets represent…

The Portuguese government has introduced a range of changes to the IRS (Income Tax) system for 2025, designed to enhance tax fairness and provide greater support to workers and pensioners. These updates were implemented through the State Budget for 2025 (OE2025) and include adjustments to tax brackets, expanded deductions, and targeted relief measures. Below, we’ll…

On December 23, 2024, the Portuguese government introduced a groundbreaking regulation under Portaria n.º 352/2024/1 aimed at fostering innovation and driving competitiveness in the national economy. Effective January 1, 2024, the Fiscal Incentive Regime for Scientific Research and Innovation (IFICI) sets the stage for a more innovative and globally competitive Portugal. What is the IFICI?…

Living abroad as a U.S. citizen offers incredible opportunities but comes with its own set of tax responsibilities. Here’s a breakdown of key tax considerations for U.S. citizens living overseas, particularly those earning income from self-employment. What If I Earn Income from Self-Employment Overseas? Self-employment income must be reported on Form 1040, Schedule C. This…

1. Introduction Crypto assets have emerged as digital representations of value or rights that can be transferred and stored electronically. While they are often associated with payment systems, their volatile value makes them more popular as investment assets. In Portugal, the taxation framework for crypto assets was introduced in the 2023 State Budget (Law No.…

Portugal is taking a significant step to attract international talent with the introduction of new regulations for the IFICI+ (Incentive for Scientific Research and Innovation). This tax incentive offers a flat 20% income tax rate for highly qualified foreign workers, valid for 10 years, and is expected to come into effect retroactively from January 1,…

Introduction: If you are an expat living in Portugal or planning an extended stay, it is crucial to stay informed about the latest regulations regarding visas and residency documents. Great news: documents and visas that expired on or after February 22, 2020, remain valid and are accepted by Portuguese authorities until June 30, 2025. What…

Creating a will is a critical step in ensuring that your wishes for the distribution of your assets are respected after your death. It can also help to prevent family disputes over inheritance. However, for a will to be legally valid in Portugal, there are specific requirements that must be met. Here’s what you need…