The
purpose of the service was to end NHR confusion and offer expats, for the first
time, a reliable solution designed specifically for NHR tax returns.
The
service, still open for early access, is the first of
its kind and is meant to solve many confusions and inaccurate tax reporting in
the expat community.
Everyone living in Portugal with foreign income needs to file a tax
return at the end of each tax year in Portugal.
However, due to the complexity of the NHR scheme, this is well beyond
the abilities of most expats and high street accountants are struggling to cope
with income types rarely seen before in Portugal, such as income from U.S. LLCs
and S-Corps, UK Ltds, different types of savings accounts etc, as well as
complex concepts such as foreign-sourced income and double taxation treaties.
This led to errors in submission and overpayment of taxes.
On this backdrop, Fresh Portugal, a specialist tax
advisory normally advising high-net-worth individuals moving to Portugal,
decided to create a tax return service that would be affordable for any expat.
Fresh Portugal now reveals that early next year, an online service that
includes a tax calculator covering typical income type of expats, will be
released and made available for free to people who signed up for early access
and this tax calculator will evolve, ahead of the tax season, to a
fully-fledged web service where expats can enter their income in a clear
interface and using plain English.
Said income will then be checked by a senior tax advisor ahead of
submission.
After helping hundreds of expats, normally those with high income, Fresh
Portugal has already Joana the tax bot, an automated
chatbot that provides basic advice to expat on taxation in Portugal. With the
launch of FreshReturns, a service at an affordable price
point, Fresh Portugal is completing its offering to all expats in Portugal and
aims to bring NHR confusion to an end.