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Portugal brings back tax breaks for foreigners in bid to woo digital nomads

The country's former prime minister called the tax breaks a "fiscal injustice" that drove up house prices.

Portugal’s will-they-won’t-they relationship with foreign workers has just taken another twist, as the country plans to bring back contentious tax breaks that its old Prime Minister called a “fiscal injustice.” The country’s Prime Minister Joaquim Miranda Sarmento told the Financial Times that his center-right government would bring legislation on Thursday to reintroduce tax breaks to lure foreigners to Portugal. “With the newly refined NHR, the government is inviting actively engaged talent focussed on innovation, entrepreneurship and education; a cohort of people who will start companies, create IP, employ and educate the future talent of Portugal as opposed to retirees whose contribution to the economy is mostly through real estate acquisition taxes, and taxes on bought good and services,” Julian Johnson, a co-founder of Golden Visa investment group Tejo Ventures, told Fortune.

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