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Portugal’s Prime Minister António Costa has resigned following a police investigation into corruption allegations. The police raided Costa’s house on Tuesday, and his Chief of Staff was arrested.
Portugal’s Attorney General has confirmed that Costa is being investigated, and it is widely expected that President Marcelo Rebelo de Sousa will accept the PM’s official resignation from office.
Costa recently revealed plans to scrap the Portuguese Non-Habitual Residency (NHR) tax regime; however, following his resignation and the investigation, these plans are nullified, if for the moment at least.
The provision to terminate the NHR is part of the current annual state budget plan, which is still in the approval state, and since this provision came as an initiative from the elected government headed by Costa, it won’t be submitted for approval.
This gives the NHR at least one more year of activity. It is still possible that the next elected government will submit a similar proposal, but it is unlikely for the matter to be resolved within 2024.
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