Following the example of other European countries, the Portuguese fiscal year is the same as the calendar year (January to December).
According to the Estate Budget for the year of 2023 and as usual, the progressive taxes were updated.
For the current IRS season of 2023, to be prepared and submitted between April and June 2024, please find below the list of the tax brackets in Portugal.
For capital income, as interests, dividends, rental income*, among others, there is also a possibility of taxation at a flat tax rate of 28%.
*Habitation rental income is currently taxed either at a progressive tax or at a 25% flat rate.
To find more information about this matter, please contact us.