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Changes to the "Simplified Tax Regime"
Changes to the "Simplified Tax Regime"
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?
Re: Changes to the "Simplified Tax Regime"
Oh well, maybe I'm the only villa owner on the forum who pays any income tax ??
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- CVO Senior
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Re: Changes to the "Simplified Tax Regime"
I have no idea just know the harder you try the more you get taken off you
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- CVO Master
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Re: Changes to the "Simplified Tax Regime"
widge wrote:Oh well, maybe I'm the only villa owner on the forum who pays any income tax ??
Oh no your not.
Re: Changes to the "Simplified Tax Regime"
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.
Re: Changes to the "Simplified Tax Regime"
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.logicbob wrote:widge wrote:Oh well, maybe I'm the only villa owner on the forum who pays any income tax ??
Oh no your not.
Re: Changes to the "Simplified Tax Regime"
Theres a reference to the the increase in this
http://www.landandhousesalgarve.com/alg ... art13.aspx
http://www.landandhousesalgarve.com/alg ... art13.aspx