What is IFICI?
The IFICI (Tax Incentive for Scientific Research and Innovation) is a special tax regime designed to attract qualified professionals to Portugal.
It applies to certain professions and activity sectors and offers a more favourable tax treatment compared to the standard personal income tax rules.
What changes?
Under this regime:
• Portuguese-source employment and self-employment income may benefit from reduced taxation;
• Foreign-source income is, in many cases, exempt from tax in Portugal, although it may still be relevant for tax rate purposes.
Considering relocating?
The IFICI regime must be carefully planned, as registration is subject to specific requirements and deadlines and is assessed on a case-by-case basis.
For those considering relocating to Portugal, IFICI may represent a valuable tax planning opportunity.
Contact us to know more.
