Recently, the government of Portugal said it was looking at introducing a tax on foreigners residing in the country on special tax holidays, according to the magazine Bilan. According to Portuguese media there are almost 30,000 residents benefiting from the arrangement, most of them retirees, many from Switzerland. Some in Portugal grumble about the upward pressure new arrivals have exerted on property prices in Lisbon and Porto. European governments, such as Sweden’s and Finland’s dislike the arrangement so much they have withdrawn from tax treaties with Portugal. In addition, there are rumours some in Brussels are unhappy with such tax competition within the EU bloc.

Source: Le News February 14, 2020 14:37 UTC