Changes to the "Simplified Tax Regime"

Share experience regarding ownership of property and/or living in Portugal.
Post Reply
widge
CVO Legend
CVO Legend
Posts: 2997
Joined: Fri Dec 03, 2004 9:02 am
Location: Bristol & Sesmarias

Changes to the "Simplified Tax Regime"

Post by widge »

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?
widge
CVO Legend
CVO Legend
Posts: 2997
Joined: Fri Dec 03, 2004 9:02 am
Location: Bristol & Sesmarias

Re: Changes to the "Simplified Tax Regime"

Post by widge »

Oh well, maybe I'm the only villa owner on the forum who pays any income tax ?? :roll: :roll: :roll:
John Burgess
CVO Senior
CVO Senior
Posts: 106
Joined: Wed Mar 24, 2004 9:54 am
Location: Vale Centeanes
Contact:

Re: Changes to the "Simplified Tax Regime"

Post by John Burgess »

I have no idea just know the harder you try the more you get taken off you
logicbob
CVO Master
CVO Master
Posts: 1688
Joined: Tue Oct 17, 2006 3:26 pm
Location: Hertfordshire / Vale De Milho

Re: Changes to the "Simplified Tax Regime"

Post by logicbob »

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.
dennisg
CVO Master
CVO Master
Posts: 1143
Joined: Sun Mar 07, 2004 12:04 pm
Location: Buckinghamshire

Re: Changes to the "Simplified Tax Regime"

Post by dennisg »

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.
widge
CVO Legend
CVO Legend
Posts: 2997
Joined: Fri Dec 03, 2004 9:02 am
Location: Bristol & Sesmarias

Re: Changes to the "Simplified Tax Regime"

Post by widge »

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:
joeysoap
CVO Master
CVO Master
Posts: 1834
Joined: Wed Feb 16, 2011 3:23 pm

Re: Changes to the "Simplified Tax Regime"

Post by joeysoap »

Theres a reference to the the increase in this

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