Title
Portugal taxes for us expats
Description
Portugal Taxes for US Expats
As a US expatriate residing in Portugal, it is crucial to understand the tax obligations you may face in both countries. Portugal has a favorable tax regime for foreign residents, but failure to comply with the applicable tax laws can result in significant penalties.
US citizens and green card holders are subject to US tax on their worldwide income, regardless of where they reside. This means that in addition to paying taxes in Portugal, you may also need to file a US tax return and report your foreign income and assets. The Foreign Earned Income Exclusion and Foreign Tax Credit can help mitigate double taxation, but the rules are complex and require careful consideration.
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