You have no idea how helpful these stories are. As an expat and business owner (self employed from the states) it's really valuable. Luckily I had a tax lawyer recommended to me and we have a plan but I'm damn nervous when it actually comes to filing. Also I hope I have the NHR benefit - my NISS came in Dec 2023 so there's a chance but the visa in 2024. We'll see - worse case, the new NHR schema. Best of luck with everything
Wow! Just came across your video. What a nightmare!!!! I'm so sorry for all of the stress!! I'm an American living in Spain and when tax season comes it gives me anxiety. Luckily I found tax accountants that know what they are doing and my tax situation isn't very complicated. I hope you get your tax situation resolved soon.
Adrian, really important discussion. Friends in Portugal have advised me as the owner of a small US business who just arrived on the D-8 visa to meet with a Portuguese tax lawyer now to figure out how my income will be classified in Portugal (post-NHR) before actually filing for the first time. Basically, have the headache first and then file with confidence later. Of course, this may well turn out to be a process of seeking a number of second opinions.
As a dual citizen who got in lots of trouble with German finanzamt taxes due to my total ignorance and being clueless, i was hear for the nitty gritty of your story! oh Teresa you on BLAST! but seriously, this would be a good business idea to connect expats/immigrants with tax expert trustworthy when they move so they get clarity from the get go. so glad you connected with the guy at the gym -- milagro
Adrien, what I'm really hearing are 2 things. Don't give up, or give in when you know something isn't right. Don't take for granted that you have to pay a bill just because you get it. Do your research and get second opinions!! The other thing I'm seeing here is a good reminder to people who move. Make friends and get acquainted with locals and native speakers. We all know that in general the Portuguese people are kind and helpful and when asked are willing to help out... especially if you are their friend. Say hello to people in your local shops and places you frequent. Be friendly and open. Kindness begets kindness. As for Barbara... good for you for calling them out. You told your story, you are allowed to tell it exactly as it is. You've turned a crappy situation around and you'll know better next time... and you've reminded your followers to do their due diligence. Win Win.
16:06 you can't claim interest on that money because the mistake in the tax filling was your fault (it is irrelevant that it was your accountant's fault - technically it was your fault). If an incorrect tax declaration generates excess tax that is later returned, the tax authorities will definitely not pay interest when returning the money. They would only pay interest if the mistake had been made by them. Also I think your plan is a bad plan. I would just pay the 5k, file the correct tax declaration and then wait for the tax authorities to return the excess. You're very worried that it may take several months - it may tale a year or two. Just forget about it, it will be returned some day. In my opinion, if you go into the payment plan option as a way to delay payment you'll get into a complex situation where you'll owe the tax authorities money and interests, and then you run the very real risk that they suspend the payment they're supposed to send you because technically you owe them money.
@@snoopy13946 Also, if he doesn't pay the 5k until the deadline he will enter the list of people who owe money to the tax authorities, and being on that list has (nasty) consequences in all sorts of areas, some of which are totally unforeseen.
Yes, and they could freeze your account. You don’t want that to happen. And if you’re all considering going for citizenship, this isn’t gonna look good for you.
Hi Adrien. Been watching you for quite awhile. Hope all is well with you. I have finally made my move to Bali. I was wondering if you could share your tailor information with me. I’m a big American boy, and it looks like I’m going to have to have clothes custom made for me living here. Thanks in advance.
Another annoying thing with the tax authority is that you first need to wait for a bunch of codes to get into the finance portail and no accountant will talk to you until you receive and give them thise codes. Also and unfortunately that's the only way to do your taxes. You cannot do it manually and your accountant doesn't even have the ability to file through their own system so it's indeed very stressful and unclear.
Investigate the "double taxation avoidance agreement", then see how to declare taxes in accordance to that agreement. All countries that have an agreement with Portugal for taxation cannot tax you again if you already paid taxes in the other country.
When I watch this video it reminds me the chance I have to live in a country where we don't pay tax at all, it's also kind of freedom... No country is perfect but I hate so much bureaucracy that I won't return in my home country (France) any time soon. I was thinking about moving to Portugal but it's not in my shortlist anymore because of all of this...
It's always more than you expect with the tax authority. I am paying 35% on my interest earned on a savings account abroad. I think it's huge because it doesn't matter if it's only a few thousand euros, you still pay 35%.
nice video to alert people! It happened quite exactly to me. Simulation and actual tax bill were about 20% different. However, I knew 100% that the portuguese tax authority is an @sshole. Hence I only steered my income to a extreme low level (almost to zero income). 20% difference did not make anything bad to me. But it once proved that authority in Portugal will certainly steal your money no matter what.
They won't freeze your bank account in Portugal. It doesn't happen just like that. Don't worry about it. European banks are regulated and don't close bank accounts for a small issue like this one
Oh, they won’t? Mine was frozen out of the blue for an entire year with no explanation or information because I had transferred a large sum of money temporarily to my Portuguese bank account, notifying the bank and my bank manager where the funds were coming from and what the purpose of the funds were for; nevertheless, got on the radar of white collar crime unit and the bank got a phone call and the feds said freeze his account. And all of that money that was transferred in was frozen for a full year without explanation and when I finally got my appointment and explain my situation, they unfroze it but without apology, and no, I didn’t receive any interest for the full year nothing nada
@@pbohearn Sorry to hear that bro. Europe sucks ass. As annoying as America is, it's helluva a lot better than the psychotic way's of the EU. Especially when it comes to "controlling" you & your money.
@@pbohearn your topic is an Anti Money Laundering matter, this is a different topic than what @Carolinapetroska was referring to. Adrien's complaint was regarding "what if I refuse to pay the EUR5k? can they freeze my account?". The answer: they cannot "freeze" the account but they can block the EUR 5k they claim to be owed to the Portuguese state + late fees. It is more or less the same law protecting retail bank customers everywhere in the EU.
You have no idea how helpful these stories are. As an expat and business owner (self employed from the states) it's really valuable. Luckily I had a tax lawyer recommended to me and we have a plan but I'm damn nervous when it actually comes to filing. Also I hope I have the NHR benefit - my NISS came in Dec 2023 so there's a chance but the visa in 2024. We'll see - worse case, the new NHR schema.
Best of luck with everything
If you are in this situation also you should be tax exempt here in PT
Wow! Just came across your video. What a nightmare!!!! I'm so sorry for all of the stress!! I'm an American living in Spain and when tax season comes it gives me anxiety. Luckily I found tax accountants that know what they are doing and my tax situation isn't very complicated. I hope you get your tax situation resolved soon.
Thank you so much for sharing thos with us! Am in the research phase, looking for warmer pastures, so this is most helpful 🙏
What a nightmare! Sorry to hear this
Adrian, really important discussion. Friends in Portugal have advised me as the owner of a small US business who just arrived on the D-8 visa to meet with a Portuguese tax lawyer now to figure out how my income will be classified in Portugal (post-NHR) before actually filing for the first time. Basically, have the headache first and then file with confidence later. Of course, this may well turn out to be a process of seeking a number of second opinions.
That’s good advice.
As a dual citizen who got in lots of trouble with German finanzamt taxes due to my total ignorance and being clueless, i was hear for the nitty gritty of your story! oh Teresa you on BLAST! but seriously, this would be a good business idea to connect expats/immigrants with tax expert trustworthy when they move so they get clarity from the get go. so glad you connected with the guy at the gym -- milagro
Butthurt people from saying expats, hilarious! Totally feel the same, thanks for the great video! You're such a lagend!
Hi Adrian, miss you, love the shirt
Adrien, what I'm really hearing are 2 things. Don't give up, or give in when you know something isn't right. Don't take for granted that you have to pay a bill just because you get it. Do your research and get second opinions!!
The other thing I'm seeing here is a good reminder to people who move. Make friends and get acquainted with locals and native speakers. We all know that in general the Portuguese people are kind and helpful and when asked are willing to help out... especially if you are their friend.
Say hello to people in your local shops and places you frequent. Be friendly and open. Kindness begets kindness.
As for Barbara... good for you for calling them out. You told your story, you are allowed to tell it exactly as it is.
You've turned a crappy situation around and you'll know better next time... and you've reminded your followers to do their due diligence. Win Win.
I pay 900 euros plus VAT to file my PT taxes. I have a great PT tax attorney and it is worth paying more. You get what you pay for. I’m in Porto btw ❤
Thanks for the video.
16:06 you can't claim interest on that money because the mistake in the tax filling was your fault (it is irrelevant that it was your accountant's fault - technically it was your fault). If an incorrect tax declaration generates excess tax that is later returned, the tax authorities will definitely not pay interest when returning the money. They would only pay interest if the mistake had been made by them. Also I think your plan is a bad plan. I would just pay the 5k, file the correct tax declaration and then wait for the tax authorities to return the excess. You're very worried that it may take several months - it may tale a year or two. Just forget about it, it will be returned some day. In my opinion, if you go into the payment plan option as a way to delay payment you'll get into a complex situation where you'll owe the tax authorities money and interests, and then you run the very real risk that they suspend the payment they're supposed to send you because technically you owe them money.
I agree. Pay the assessed tax. Keeps you legal. Prevents serious problems. Get the money back later and take it as a lesson learned.
@@snoopy13946 Also, if he doesn't pay the 5k until the deadline he will enter the list of people who owe money to the tax authorities, and being on that list has (nasty) consequences in all sorts of areas, some of which are totally unforeseen.
Yes, and they could freeze your account. You don’t want that to happen. And if you’re all considering going for citizenship, this isn’t gonna look good for you.
Hi Adrien. Been watching you for quite awhile. Hope all is well with you. I have finally made my move to Bali. I was wondering if you could share your tailor information with me. I’m a big American boy, and it looks like I’m going to have to have clothes custom made for me living here. Thanks in advance.
Another annoying thing with the tax authority is that you first need to wait for a bunch of codes to get into the finance portail and no accountant will talk to you until you receive and give them thise codes. Also and unfortunately that's the only way to do your taxes. You cannot do it manually and your accountant doesn't even have the ability to file through their own system so it's indeed very stressful and unclear.
Yes getting the login to your finanças account can also be an annoying process at first
nice shirt . tax situation sounds like a nightmare, sorry you are going through that.
Right?! I want that shirt!!🤩 it's gorgeous ❤ I wonder what brand the shirt is??
The shirt is one of my designs from when I lived in Bali 😉
welcome to Portugal
@@AdrienField wow you designed a gorgeous shirt!! We love it!!
Investigate the "double taxation avoidance agreement", then see how to declare taxes in accordance to that agreement. All countries that have an agreement with Portugal for taxation cannot tax you again if you already paid taxes in the other country.
When I watch this video it reminds me the chance I have to live in a country where we don't pay tax at all, it's also kind of freedom... No country is perfect but I hate so much bureaucracy that I won't return in my home country (France) any time soon. I was thinking about moving to Portugal but it's not in my shortlist anymore because of all of this...
It was a nightmare for me too. They gave me 15 days only to straighten my situation.
It's always more than you expect with the tax authority. I am paying 35% on my interest earned on a savings account abroad. I think it's huge because it doesn't matter if it's only a few thousand euros, you still pay 35%.
nice video to alert people! It happened quite exactly to me. Simulation and actual tax bill were about 20% different. However, I knew 100% that the portuguese tax authority is an @sshole. Hence I only steered my income to a extreme low level (almost to zero income). 20% difference did not make anything bad to me. But it once proved that authority in Portugal will certainly steal your money no matter what.
They won't freeze your bank account in Portugal. It doesn't happen just like that. Don't worry about it. European banks are regulated and don't close bank accounts for a small issue like this one
Oh, they won’t? Mine was frozen out of the blue for an entire year with no explanation or information because I had transferred a large sum of money temporarily to my Portuguese bank account, notifying the bank and my bank manager where the funds were coming from and what the purpose of the funds were for; nevertheless, got on the radar of white collar crime unit and the bank got a phone call and the feds said freeze his account. And all of that money that was transferred in was frozen for a full year without explanation and when I finally got my appointment and explain my situation, they unfroze it but without apology, and no, I didn’t receive any interest for the full year nothing nada
Actually they will.
@@pbohearn Sorry to hear that bro. Europe sucks ass. As annoying as America is, it's helluva a lot better than the psychotic way's of the EU. Especially when it comes to "controlling" you & your money.
@@pbohearn your topic is an Anti Money Laundering matter, this is a different topic than what @Carolinapetroska was referring to. Adrien's complaint was regarding "what if I refuse to pay the EUR5k? can they freeze my account?". The answer: they cannot "freeze" the account but they can block the EUR 5k they claim to be owed to the Portuguese state + late fees. It is more or less the same law protecting retail bank customers everywhere in the EU.
They will freeze. Mines blocked through download problems on their App
I clicked for one reason: dat shirt. Dat shirt! That is an awesome shirt!
Portuguese businesses are always slow to answer.
What does he do for a living?! Onlyfans?!?😮😢😮
I’m flattered you think this is a possibility
@AdrienField you have what it takes
Meh you went cheapskate and you got cheapskate service ..... next time pay for professional service from the outset.