This week, the State budget (Proposta de Orçamento de Estado) for 2024 (OE2024) announced the end of the RNH tax benefit, keeping it accessible only to people with income resulting from “higher education” and scientific research teaching careers or qualified jobs, specifically described on the Investment Tax Code.
2024 is the last year to benefit from the 10-years of tax benefits, under the RNH regime.
There is still the chance for those who enter by the end of 2023 to enjoy a reduction in the IRS (Imposto de Renda das Pessoas Singulares – individual income tax) rate for 10 years.
The end of this benefit will not affect applications made up to March 2024. In short, those who applied for this status until 2024 will continue to be taxed at the special IRS rate until the end of the ten-year period.
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