Portugal Plans to End 10-Year Tax Break for New Residents (1)

Portugal plans to end the non-habitual resident regime that offers lower tax rates during 10 years for some people who move to the country as Prime Minister Antonio Costa takes further steps to face the country’s housing crisis.

The regime will end for new residents in 2024 and will remain in place for those who already benefit from it, Costa said in an interview with CNN Portugal on Monday evening.

Antonio Costa

Photographer: Andrey Rudakov/Bloomberg

Earlier this year, the government also approved a plan to end its golden visa program for foreign property buyers as it tries to address the lack of affordable housing ...