How are my retirement accounts taxed in Portugal?

Under the terms of the tax treaty, private pension income is only taxed in the country of residence. Therefore, as long as distributions are considered pension income in Portugal, they are taxed in Portugal at a 10% rate for those with NHR or at normal income rates for those without NHR. Please note that the tax-free withdrawals of Roth IRAs and Roth 401(K)s are not recognised by Portugal and you may end up paying tax on the distributions. Also note that public pensions (e.g. 403(b) plans and social security) will be taxed in the country of origin (i.e. the USA). For more information about how to handle your pensions contact our specialists.

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Please note that during the Christmas and New Year period, response times for form submissions may be longer than usual. We appreciate your understanding and patience during this festive season. Our team will do their best to attend to your submissions as promptly as possible. Wishing you a wonderful holiday season!
In order for us to best help you, please state: what solutions you require, the status of your residency, if you hold NHR tax status, if you are currently applying/intending to apply for NHR, if you hold a NIF ID, if you are currently applying/intending to apply for a NIF ID, if you have medical insurance in Portugal, and if you have proof of an address in Portugal, in addition to any other pertinent information.
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