Category: Blog

On March 24, 2025, Decree-Law No. 35/2025 was published, bringing significant changes to the special VAT exemption scheme for small businesses in Portugal. This legislation partially transposes EU Directives 2020/285 and 2022/542, aiming to harmonize VAT rules across the European Union and reduce compliance burdens for micro and small enterprises. 📌 Key Highlights for Freelancers…

At GoalSeek, we closely monitor developments that affect expatriates and international professionals living in Portugal—especially those benefiting from the Non-Habitual Resident (NHR) regime. One recent informação vinculativa (binding ruling) issued by the Portuguese Tax Authority (Process 19986) sheds light on the treatment of lump-sum pension payments from abroad, specifically from Germany. This is a relevant…

When it comes to the taxation of Individual Retirement Accounts (IRAs) and Roth IRAs in Portugal, the applicable tax treatment depends on how the funds are received (periodic income vs. lump sum) and whether the contributions were taxed at the time of investment or upon withdrawal. This classification is guided by the Portuguese Código do…

Introduction For parents, education expenses represent a significant part of the family budget. However, the Portuguese IRS allows for certain education costs to be deducted, helping families recover a portion of these expenses. But which expenses qualify for deductions, and how can you ensure you take full advantage of them? How Much Can You Deduct?…

Investors receiving dividends in shares instead of cash must understand how these earnings are taxed under Portuguese law. A recent binding ruling (“Informação Vinculativa”) clarifies the taxation of dividends received in shares and their implications upon future sale. Key Points on Dividend Taxation in Portugal Dividends as Capital Income (Category E): Under Article 5(2)(h) of…

Tax compliance is a fundamental aspect of operating a business in Portugal. Failure to adhere to tax regulations can result in substantial fines and penalties, affecting both cash flow and operational stability. This article provides an overview of key tax infractions and the associated penalties under Portuguese tax law in 2024. 1. Late or Non-Filing…

1. Introduction The simplified IRS regime in Portugal is a tax framework designed for self-employed individuals and small businesses with annual gross revenues up to €200,000. It is a simplified alternative to the organized accounting system, offering reduced administrative obligations and predetermined expense deductions. 2. Eligibility Criteria To qualify for the simplified IRS regime, a…

With the rapid expansion of the cryptocurrency market, Portugal has adapted its tax legislation to incorporate the taxation of crypto-assets. As of 2024, profits derived from the sale of cryptocurrencies must be reported in personal income tax (IRS) filings. Historical Context Until the end of 2022, Portugal had no specific tax regulations governing crypto transactions.…

As we approach the 2025 tax season, several updates and important deadlines will affect individuals, self-employed professionals, and corporations in Canada. Below, we’ve outlined the key changes to tax brackets, contribution limits, and government programs, as well as important filing deadlines to keep in mind. 2025 Canadian Tax Brackets For 2025, federal tax brackets and…

As 2025 begins, so does tax season—a nearly three-month period when millions of Americans file their taxes. This year, some updates to tax brackets and filing requirements may affect whether you owe money or receive a refund. This guide provides everything you need to navigate the upcoming tax season with ease, including key deadlines, new…