# IRS changes for 2012 - part II



## PedroCruz (Sep 15, 2011)

Some more (that were lacking on the other post).
Don't forget that none of these are (yet) published / approved. They're still not law (but they will).


Intellectual earnings
In 2011, until 30.000€, only 50% of this kind of earnings are taxed. For 2012, the maximum will lower to 20.000€.

Health insurance
The maximum deductible for 2011 is 85€ (if your single) and 170€ for couples.
In 2012 it will come down to 50€ (single) and 100€ (couples).

Retention Taxes
There will be a retention tax of 20% for high added value professions (in the ‘green receipts’ / independent workers). The finance ministry will publish a list of the high value professions.

House rental taxation for non-residents
The tax for house rental, if owned by non-residents, that was set on 15% will be majored to 16,5%.

Retirement Saving Plans
If you try to get your money back before the time, you’ll have to give back the deducted taxes, plus, you’ll pay an extra 10% of the money taken (before time). Until 2011 the penalization is only of 1%.

Additional Tax
If your annual earnings are equal or above 153.300€, you’ll have an extra tax of 2,5%

Isolated woks
Until 2011, there’s a ‘tax figure’ called: Acto isolado. Is some job you do, like a independent worker but, there’s only one in the entire year, so, you don’t have to register, just deliver a form at the tax office. From 2012, even for those cases, you’ll have to buy a ‘green electronic receipt’ (on paper) at the tax office and deliver it to the company that paid for the job.

Cheers


Pedro Cruz


----------



## notlongnow (May 21, 2009)

Thanks Pedro, very useful info for us taxpayers!


----------



## PedroCruz (Sep 15, 2011)

Thanks notlongnow,

Good that you liked.
I sayd I would write about other taxes, but, not shure if it's a good ideia.
You can't always appeal to everyone and it's sad when don't find a reason for it.
At this moment I'm reflecting on my maintenance on the forum, the reason migh stay between me and the devil (i'm not a religious person).
But, glad it was usefull.
Cheers


Pedro Cruz





notlongnow said:


> Thanks Pedro, very useful info for us taxpayers!


----------



## canoeman (Mar 3, 2011)

Great to get an overview, can then dig out the relevant bits that affect each of us


----------



## paramonte (Sep 9, 2007)

Pedro whats the problem?


----------



## PedroCruz (Sep 15, 2011)

Hello paramonte,

Thanks for the interest, by I can't comment much of it.
At this point I'm reflecting it my recent registration should be maintained or not.
As I see it, I can share what I know, and try to understand what other people search / need in a specific area. You share what you know, and thake back what others know or need.
When you're in a group, you must folow the groups intents. If you have an ideia of what they are, but you might be wrong about it, or you change or you retire.
But, as I see it, you don't give without taking. If you give friendship, you ecxpect the same back. If you share information, on a good will, that's what it's all about and nothing more.
As I'm not shure if I understood the groups will, I'm reflecting about it.
It's a bit sad, but, everything in life is about chosing.
Bit confusing, but it's as far as I can go.
I have prepared the IMI and IMT tax changes, some for now, 2011, but I have to solve this thing first.
Hope the info was helpfull in anyway.


Pedro Cruz


----------



## paramonte (Sep 9, 2007)

There are many expats (and not only expats ) that read the messages you kindly wrote and do not reply, yet finding the messages quite helpfull. 

On the other hand all these IRS matters are so technical for us, let alone for the expats. Many employ fiscal representatives and dont go into the details. I can assure you that, at least for one expat I know your messages have been printed...

Your contubuitions would be also quite wellcome in:

Fórum da Casa - Todas as Discussões

Please register and participate. See you there!!


----------



## canoeman (Mar 3, 2011)

Sure a lot of us do find information very helpful and useful, maybe it's to do with how you've* worded* a recommendation that the moderators have deleted a couple of items


----------



## PedroCruz (Sep 15, 2011)

Kind words of yours.
I could comment, but, my comments recently led me to memmory loss.
One of he things I forgot was how to send private messages, I can't seem to find the right bottom. Oh well ...... I'll just wait till the memory returnes.
Canoeman, if I was to recomend someone from Algarve (that's 300kms from here), I would be doing it just like you did: recommend someone you think would help out the person how may need.
But, I know nothing about it, I forgot.

Let's just wait (if stop comming here, it's because I forgot the password, too).


Pedro Cruz






canoeman said:


> Sure a lot of us do find information very helpful and useful, maybe it's to do with how you've* worded* a recommendation that the moderators have deleted a couple of items


----------

