[ Offshore Tax ] Let's talk about Spain's exit taxes vs Portugal's.

Описание: [ Offshore Tax ] Let's talk about Spain's exit taxes vs Portugal's.

Spain introduced an exit tax in 2015. It applies to individuals who have been resident in Spain for at least 10 out of the previous 15 tax years, and who hold shares that meet certain criteria. The exit tax is triggered when the individual leaves Spain and moves to another country.

TIMESTAMPS:
0:00 INTRO
0:21 Exit Taxes Spain
1:56 Exit Taxes Portugal
3:33 OUTRO

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DERREN JOSEPH:
Fallback rules. So there are certain rules around, like when you leave Spain or Portugal, potentially you may still be caught in the tax net of Spain or Portugal, even though you're not technically there. Is that possible, Ricky? Is that possible? How does that work?

RICKY GUTIERREZ BECKER:
So basically exit tax, I mean, there's exit tax in Spain, as we mentioned earlier in a conversation, Darren, but the criteria for that exit tax, it's pretty high because you need to have shares of over 4 million. You will be lucky if you have this kind of money. And, this is only the exit tax we have here. And the most common is whenever people move to a tax. There's this road here in Spain, it's called the quarantine rule, that whenever someone decides to move from Spain to, for a tax saving, they are actually considered tax residents for the next five years.

DERREN JOSEPH:
And to get that list of tax havens. You get that on one of the government tax websites, right?

RICKY GUTIERREZ BECKER:
Yes. Yeah. If you go to the, to the government, you can, you can check the, the tax even countries, basically the tax, even countries are countries, which Spain doesn't have a, a double taxation treaty.

DERREN JOSEPH:
Yeah.

RICKY GUTIERREZ BECKER:
I mean we have over a hundred double taxation treaties. So there are some countries that they're considered tax havens.

DERREN JOSEPH:
So basically, we have it on our website for those who just wanna access it quickly just with htj.tax. So basically it's all the fund countries. Any island with zero or the uae, which is also zero people wanna go to, it's probably on, on that list. So yeah. Okay. Augusto, does Portugal have anything like that? Any sort of exit or quarantine rules?

AUGUSTO PAULINO:

Okay. It is, in terms of the fallback rules or rules, it's, it's similar to Spain. So in case an individual moves to what we call blacklist jurisdiction and blacklist in Portugal is, well a long list, the individual still within their tax resident in Portugal, unless he's able to prove that he moved for justifiable reasons, namely to work to have an employment contracting in such, in such a jurisdiction. But the rule is similar to Spain, we do not actually have exit taxes. There are some, some specific situations that can be picked by, by specific rules of exit taxes. For example, we have a, a pretty recent one that was introduced for, for 2023 with the state budget for this year.

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