When is the deadline to apply for the IFICI tax benefits in Portugal?
The deadline to apply for the IFICI tax benefits in Portugal is set for March 15, 2025. This exceptional extension allows foreign workers and non-residents who have not been tax residents in Portugal for the preceding five years to benefit from these tax incentives. It is advisable to act promptly as such opportunities can have significant financial implications for your future in Portugal. The IFICI tax regime guarantees a preferential income tax rate of 20% on various income types, ideal for foreigners aiming to build a life or invest in Portugal. Make sure to prepare your application through the Finance Portal, where you will find all necessary forms and explicit instructions for filling them. Additionally, the regulations outlined by the Ministry of Finance are crucial for ensuring compliance, thereby maximising your eligibility for these tax benefits. If you require assistance, support is available from organisations such as the Agency for Investment and Foreign Trade of Portugal and the Foundation for Science and Technology. Be aware that anyone returning to Portugal after five years and those who have changed their tax residency can still find opportunities waiting for them under this regime. Hence, take advantage of this extended deadline and formulate a plan to apply for the incentivised tax benefits soon. Reach out today for help getting your application in order!
The order with the model and instructions for filling out the forms is included in an order from the Ministry of Finance, now published in the Official Gazette of the Union, and registrations may be made, exceptionally in 2025, until March 15.
“Taxpayers registered with the AT as residents in Portuguese territory must request their registration for the purposes of the IFICI by January 15 of the year following that in which they become tax residents in Portugal. Exceptionally, in 2025, this deadline is March 15th”, says the diploma.
Registration requests are made on the Finance Portal, and verification of compliance with the requirements is carried out by the AT, Foundation for Science and Technology (FCT), IAPMEI – Agency for Competitiveness and Innovation, AICEP – Agency for Investment and Foreign Trade of Portugal, National Innovation Agency or Startup Portugal, depending on the requirements relating to the applicant and their activity.
It is necessary not to have been a tax resident in Portugal in the five years prior to registering with IFICI to be able to benefit from this regime, therefore, as was the case with the NHR, emigrants who left Portugal (and changed their tax residence) more than five years ago are eligible.
The IFICI tax regime allows covered professionals to pay an IR rate of 20% on income from dependent and independent work (categories A and B), including exemptions on other income such as capital gains, for example.
