The Portuguese capital continues to occupy one of the top positions in the table that analyses 25 destinations worldwide. The “Savills Executive Nomad Index”, a ranking that analyses the 25 best destinations worldwide for Digital Nomads, places the city of Lisbon in...
The Internal Revenue Service today reminded U.S. citizens, resident aliens and any domestic legal entity that the deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR) is April 15. For additional information about filing deadlines, filers...
Form 1040 is the standard federal income tax form that individuals use to report their income to the IRS. All U.S. persons (US Citizens, GreenCard Holder and Resident Aliens) are required to file a Form 1040 annually, regardless of their income source, the country...
In October 2023, the Portuguese government announced that by January 2024 it would end the Non-Habitual Residency (NHR) tax regime, which has granted tax benefits to many expats in Portugal since 2009. With the NHR program being phased out, the number of people who...
Passive Foreign Investment Company (PFIC) A foreign entity/form of investment is a PFIC if it meets either the income or asset test described below. Income test. 75% or more of the corporation’s gross income for its taxable year is passive income (as defined in...
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