Portuguese tax residents are liable for income taxes on their worldwide income at progressive rates from 12% on income of up to Euros 4,266 (2004) up to a maximum of 40% on annual income above Euros 53,323 (2004).
Interest paid by Portuguese banks is considered taxable income.
Some pensions are tax exempt up to specified amounts and depending upon overall income. Seek professional tax advice before moving to Portugal.
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