# Overseas Income TAX



## franck8888 (Jul 9, 2021)

I am a permanent resident from Hong Kong and planning to move to Portugal.

Under NHR regime I understand that Foreign source dividends, interest and capital gains can be exempt from PIT if the income can be liable to tax in the country of source according to the applicable Tax Treaty or to the OECD Model Tax Convention.

In Hong Kong we don’t pay PIT for capital gain tax , dividends and interest made in Hong Kong.

if I move to Portugal under a NHR regime will I be subject to tax in Portugal for capital gain tax , dividends and interest made in HK ? do I need to present a specific document for such activity to Financas ?


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## tom123$$ (Jul 10, 2021)

If you are talking about capital gains from the disposal of company shares, then they are taxed in the country of your residence. So, under NHR you would be a tax resident in Portugal and thus subject to capital gains tax in Portugal. If dividend tax is withheld in HK and HK has double tax treaty with PT then it will be tax exempt in PT.


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## franck8888 (Jul 9, 2021)

Thanks its dividends from listed companies i have in my own equity portfolio. Dividends withholding tax in hk is zero. There is a Double Tax Treaty with Hk. So no tax in PT i guess ?


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## tom123$$ (Jul 10, 2021)

In this case (if there is no dividend tax in HK) I would actually check more what the double tax agreement says regarding this, or best is to confirm with some accountant.


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## TonyJ1 (May 20, 2014)

There is no requirement that there is effective tax in the case of dividends and / or interest from HK. In the case of capital gains, you are correct - gains will be taxed in PT - not exempt under the nhr


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