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Articles | 2023-12-18

Informative Note | Update: Portugal – End of the NHR and the creation of a tax regime for scientific research and innovation

The Portuguese Budget Law for 2024 was approved on November 29th, foreseeing amongst other important tax aspects the end of the Non-Habitual Tax Resident (NHR) scheme as of the 1st of January 2024. At the same time, the Budget Law has created a new tax regime that can potentially apply to individuals seeking to move their tax residency to Portugal from the 1st of January 2024.

The NHR regime continues to apply to individuals already enjoying from the regime, until the 10-year period expires. This includes any taxpayer that by 31 December 2023 is registered as a tax resident in Portugal.

Informative Note | Update: Portugal – End of the NHR and the creation of a tax regime for scientific research and innovation

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