Non-resident couple´s rental income(1) Monthly Rental Income(2) 1,500 6,000 12,000 Annual Rental Income 18,000 72,000 144,000 Less Expenses(3) (1,000) (3,000) (6,000) = Taxable Income 17,000 60,000 138,000 Income Tax(4) Flat Rate 28% 4,760 19,320 38,640 Annual Income Tax Due 4,760 19,320 38,640 Tax Due as % of Gross Income 26.
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Portuguese property is an attractive investment because it can bring income as well as capital growth, making it potentially both a secure and profitable investment. However, with making money comes fiscal obligations.
Buy-to-let owners in Portugal are faced with new commitments and compliance requirements when sorting out their tax obligations on holiday property rentals.
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Tax on rental income in Portugal As many of you rent out your property through our services it is maybe good to know if and what you have to declare to the Portuguese tax authorities (Finançes). It is known know that undeclared rental income is high on the list of the Finançes.
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