Changes to the "Simplified Tax Regime"

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Changes to the "Simplified Tax Regime"

Postby widge » Thu Jan 12, 2017 3:00 pm

I am being told that WEF 2018 the IRS will increase the threshold for taxable income from 15% to 35% effectively more than doubling the income tax payable by villa owners who rent their properties. Anyone corroborate this and, if it's true, any ideas on how to mitigate the effect of another punitive tax hike?
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Re: Changes to the "Simplified Tax Regime"

Postby widge » Wed Feb 08, 2017 10:27 am

Oh well, maybe I'm the only villa owner on the forum who pays any income tax ?? :roll: :roll: :roll:
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Re: Changes to the "Simplified Tax Regime"

Postby John Burgess » Wed Feb 08, 2017 11:53 am

I have no idea just know the harder you try the more you get taken off you
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Re: Changes to the "Simplified Tax Regime"

Postby logicbob » Sat Feb 11, 2017 5:10 pm

widge wrote:Oh well, maybe I'm the only villa owner on the forum who pays any income tax ?? :roll: :roll: :roll:



Oh no your not.
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Re: Changes to the "Simplified Tax Regime"

Postby dennisg » Sun Feb 12, 2017 7:21 pm

We rent ours out through Rocha Brava and pay tax both in Portugal and UK. For some reason the authorities have us as "fiscal residents" of Portugal, which we certainly are not, and we have to sort this out on our next visit.
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Re: Changes to the "Simplified Tax Regime"

Postby widge » Mon Feb 13, 2017 8:15 am

logicbob wrote:
widge wrote:Oh well, maybe I'm the only villa owner on the forum who pays any income tax ?? :roll: :roll: :roll:



Oh no your not.


Strange isn't it logicbob,if the UK government more than doubled the rate of income tax payable on an activity there would be public outrage and the press and opposition politicians would be all over it like a rash? Here just quiet acceptance - how the troika have emasculated the Portuguese people - it's a disgrace. :evil:
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Re: Changes to the "Simplified Tax Regime"

Postby joeysoap » Sun Feb 19, 2017 3:09 pm

Theres a reference to the the increase in this

http://www.landandhousesalgarve.com/alg ... art13.aspx
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