摘要："\u003Cimg src=\"http:\u002F\u002Fp3.pstatp.com\u002Flarge\u002Fpgc-image\u002FRXmTRtlCMxCNXZ\" img_width=\"600\" img_height=\"337\" alt=\"雙語閱讀｜葡萄牙利用養老金低稅方式增強旅遊業收入\" inline=\"0\"\u003E\u003Cp\u003EWHEN the financial crisis hammered Portugal’s economy, hundreds of thousands of its people left, taking advantage of the European Union’s rules on free movement to find work in countries that were hit less hard. Now Portugal is welcoming older people going in the other direction, not for jobs but for a warm, cheap retirement. Well-off baby-boomers are flocking to Lisbon, Sintra and the Algarve, drawn in part by Portugal’s tax exemptions on foreign income. Under its non-habitual-residency scheme, pensions from abroad can be drawn tax-free for a decade.\u003C\u002Fp\u003E\u003Cp\u003E當金融危機重創葡萄牙經濟時，數十萬人利用歐盟人口自由流動的規定，前往受金融危機影響較小的國家工作。\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\u003Cp\u003E\u003Cstrong\u003E印度出手解救最大影子銀行卻留下後患\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\u003Cp\u003E\u003Cstrong\u003E以牙還牙的\u003Ci class=\"chrome-extension-mutihighlight chrome-extension-mutihighlight-style-4\"\u003E貿易戰\u003C\u002Fi\u003E升溫不止\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\u003Cp\u003E\u003Cstrong\u003E中國打造數字絲綢之路\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\u003Cp\u003E\u003Cstrong\u003E挖掘加密貨幣正消耗大量電力\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\u003Cp\u003E\u003Cstrong\u003E價值觀投資漸成氣候\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\u003Cimg src=\"http:\u002F\u002Fp3.pstatp.com\u002Flarge\u002Fpgc-image\u002FR69MnxW3IsH9KU\" img_width=\"640\" img_height=\"12\" alt=\"雙語閱讀｜葡萄牙利用養老金低稅方式增強旅遊業收入\" inline=\"0\"\u003E\u003Cp\u003E\u003Cstrong\u003E翻吧·與你一起學翻譯\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\u003Cp\u003E\u003Ci class=\"chrome-extension-mutihighlight chrome-extension-mutihighlight-style-4\"\u003E微信\u003C\u002Fi\u003E號：translationtips\u003C\u002Fp\u003E"'.slice(6, -6), groupId: '6719712684171854340。

"\u003Cimg src=\"http:\u002F\u002Fp3.pstatp.com\u002Flarge\u002Fpgc-image\u002FRXmTRtlCMxCNXZ\" img_width=\"600\" img_height=\"337\" alt=\"雙語閱讀｜葡萄牙利用養老金低稅方式增強旅遊業收入\" inline=\"0\"\u003E\u003Cp\u003EWHEN the financial crisis hammered Portugal’s economy, hundreds of thousands of its people left, taking advantage of the European Union’s rules on free movement to find work in countries that were hit less hard. Now Portugal is welcoming older people going in the other direction, not for jobs but for a warm, cheap retirement. Well-off baby-boomers are flocking to Lisbon, Sintra and the Algarve, drawn in part by Portugal’s tax exemptions on foreign income. Under its non-habitual-residency scheme, pensions from abroad can be drawn tax-free for a decade.\u003C\u002Fp\u003E\u003Cp\u003E當金融危機重創葡萄牙經濟時，數十萬人利用歐盟人口自由流動的規定，前往受金融危機影響較小的國家工作。現在，葡萄牙正歡迎老年人逆潮流而行，不是找工作，而是享受氣候溫暖而開銷低廉的退休生活。富裕的“嬰兒潮一代”湧向里斯本、辛特拉和阿爾加維等地，其中一個原因是葡萄牙對外國收入免稅。根據非常住居民稅收計劃，來自國外的養老金可在10年內免稅提取。\u003C\u002Fp\u003E\u003Cp\u003EBilateral double-taxation agreements are intended to ensure that income does not end up being taxed twice. But some countries, seeking to boost domestic demand by luring wealthy immigrants, have arranged matters so that they can avoid paying any tax on income earned outside their country of residence, such as pensions, capital gains and rent. To qualify, foreign pensioners who move to Portugal need only stick around for six months a year and register as tax-resident.\u003C\u002Fp\u003E\u003Cp\u003E雙邊雙重徵稅協用於確保不對收入進行二次徵稅。不過，一些國家爲通過吸引有錢人移民，刺激內需，做出一定的安排，避免他們在所居住國以外的收入納稅，其中包括養老金、資本利得和租金。爲了符合條件，移居葡萄牙的海外退休老年人每年僅可逗留6個月，並登記爲稅務居民。\u003C\u002Fp\u003E\u003Cp\u003EPortugal is not the only EU country where foreign pensioners can find a sweet deal. France taxes some pensions taken as a lump sum at 7.5%; with judicious use of private health insurance, pensioners can also avoid paying the social charges of 9.1% normally levied on pensions. Malta exempts pensions of up to €13,200 ($15,200) from tax altogether, with a flat rate of 15% above that. State pensions are often excluded from generous exemptions but Cyprus taxes all pensions at 5%, making it particularly attractive for retired civil servants. It also allows people to withdraw their entire pension pots as a lump sum tax-free.\u003C\u002Fp\u003E\u003Cp\u003E葡萄牙不是唯一的外國退休老年人給甜頭的歐盟國家。法國對養老金徵稅稅率合計7.5%；通過明智地使用私人健康保險，退休人員也可避免支付通常對養老金徵收的9.1%的社會費用。馬耳他免除的養老金總額高達13200歐元(15200美元) ，超過需徵收的15%。國家養老金常常不在全額免稅項之外，不過，塞浦路斯對所有養老金只徵收5%的稅，尤其吸引退休公務。它還允許人們免稅一次性提取所有養老金，不徵收。\u003C\u002Fp\u003E\u003Cp\u003EGovernments elsewhere are cross about being undercut. Portugal’s most vocal critics are the Nordics. Finland shredded its tax agreement with Portugal in June. If Portugal does not accept a draft deal letting Finland tax most pensions drawn by its retirees there by November, it will start doing so anyway in January. It estimates that it loses a mere €3m-6m a year in revenue to Portugal, but says that as a matter of principle it can no longer tolerate “tax refugees”. This is just sour grapes, says Pekka Pystynen, a retired former executive. Mr Pystynen spends his winters in his home in the Algarve and the summers at his cottage in Finland. The tax benefits were a bonus, he says, but the main draws were the weather and relaxed lifestyle.\u003C\u002Fp\u003E\u003Cp\u003E其他國家的\u003Ci class=\"chrome-extension-mutihighlight chrome-extension-mutihighlight-style-2\"\u003E政府\u003C\u002Fi\u003E對低稅率政策表示不滿。北歐國家直言不諱地批評葡萄牙。今年6月，芬蘭撕毀了與葡萄牙的稅收協議。如果葡萄牙不接受一項協議草案，允許芬蘭在11月前對住在葡萄牙的芬蘭籍退休人員所提取的主要養老金徵稅，就將在明年1月無條件地開始徵稅。芬蘭估計葡萄牙每\u003Ci class=\"chrome-extension-mutihighlight chrome-extension-mutihighlight-style-2\"\u003E年會\u003C\u002Fi\u003E損失\u003Ci class=\"chrome-extension-mutihighlight chrome-extension-mutihighlight-style-4\"\u003E30\u003C\u002Fi\u003E0萬至600萬歐元收入，但表示，作爲原則問題，不再容忍“稅務難民”現象。退休高管佩卡•派斯廷寧(Pekka Pystynen)表示，這只是酸葡萄心理。Pystynen在阿爾加維過冬，在芬蘭度夏。他表示，稅收優惠是額外福利，但主要的原因在於氣候和休閒的生活方式。\u003C\u002Fp\u003E\u003Cp\u003EPensioners are important to Portugal’s tourism industry, which contributed over 17% to the country’s GDP in 2017. One job in five is linked to tourism. The average pension paid to Finns living in Portugal is around €3,500 a month. Since prices are a fifth lower than the euro-area average, that goes a long way. According to Sirpa Uimonen of the University of Helsinki, Finns living in the Algarve spend €14,700 a year on average, over 20% more than locals do.\u003C\u002Fp\u003E\u003Cp\u003E退休人員對葡萄牙旅遊業至關重要，後者在2017年佔葡萄牙GDP17%以上。五分之一的工作崗位與旅遊業有關。在葡萄牙生活的芬蘭人的養老金支出平均是每月3 500歐元左右。由於葡萄牙的價格比歐元區平均水平低五分之一，這大有裨益。據赫爾辛基大學的Sirpa Uimonen所知，在阿爾加維的芬蘭人平均每年花費14,700美元，比當地人高出20%。\u003C\u002Fp\u003E\u003Cp\u003EWithdrawing from double-taxation agreements is rare. Denmark ended its deals with Spain and France in 2009, also because of rows about pensions. In the case of Portugal, other countries may follow Finland’s lead. Sweden’s finance minister has pressed to do so. More commonly, countries take matters into their own hands. France is about to start taxing French pensions that are paid abroad. And a new bilateral agreement means that Britain will soon start taxing British government-service pensions drawn in Cyprus.\u003C\u002Fp\u003E\u003Cp\u003E撤銷雙重徵稅協定的情況很少見。丹麥在2009年終止了與西班牙和法國的協議，也是因爲養老金問題。對葡萄牙而言，其他國家可能會效仿芬蘭。瑞典財長也曾爲此施壓。更爲普遍的是，各國自行其是地解決問題。法國即將開始對在國外支付的養老金徵稅。新的雙邊協議意味着英國將很快對在塞浦路斯提取的英國養老金徵稅。\u003C\u002Fp\u003E\u003Cp\u003EPortugal’s generosity to retired foreigners has been criticised by locals. They pay up to 48% on their pensions; property prices rose by 10% last year. Extra demand from foreign buyers will not have helped. One political party, the Left Bloc, has proposed closing the pensions loophole. Retired foreigners may soon have to decide whether vinho verde and pasteis de nata are enough of a draw.\u003C\u002Fp\u003E\u003Cp\u003E葡萄牙對外國退休人員的慷慨政策受到了本國居民的指責。他們的退休金所支付的稅額高達48%；去年房價上漲10%。外國買家的更多需求無濟於事。左翼聯盟政黨已提議填補養老金漏洞。退休的外國人可能很快要決定，維諾·佛德和巴斯德·納塔是否足夠吸引人。\u003C\u002Fp\u003E\u003Cp\u003E\u003Cstrong\u003E編譯：楊淑青\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\u003Cp\u003E\u003Cstrong\u003E編輯：\u003C\u002Fstrong\u003E\u003Cstrong\u003E翻吧君\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\u003Cp\u003E\u003Cstrong\u003E來源：\u003C\u002Fstrong\u003E\u003Cstrong\u003E經濟學人（2018.10.04）\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\u003Cp\u003E\u003Cstrong\u003E閱讀·經濟學人\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\u003Cp\u003E\u003Cstrong\u003E量子計算機即將破解互聯網加密技術\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\u003Cp\u003E\u003Cstrong\u003E企業的健康福利很難提升員工生產力\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\u003Cp class=\"\"\u003E\u003Cstrong\u003E央行的作用與自動印鈔機無異嗎？\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\u003Cp\u003E\u003Cstrong\u003E印度出手解救最大影子銀行卻留下後患\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\u003Cp\u003E\u003Cstrong\u003E以牙還牙的\u003Ci class=\"chrome-extension-mutihighlight chrome-extension-mutihighlight-style-4\"\u003E貿易戰\u003C\u002Fi\u003E升溫不止\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\u003Cp\u003E\u003Cstrong\u003E中國打造數字絲綢之路\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\u003Cp\u003E\u003Cstrong\u003E挖掘加密貨幣正消耗大量電力\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\u003Cp\u003E\u003Cstrong\u003E價值觀投資漸成氣候\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\u003Cimg src=\"http:\u002F\u002Fp3.pstatp.com\u002Flarge\u002Fpgc-image\u002FR69MnxW3IsH9KU\" img_width=\"640\" img_height=\"12\" alt=\"雙語閱讀｜葡萄牙利用養老金低稅方式增強旅遊業收入\" inline=\"0\"\u003E\u003Cp\u003E\u003Cstrong\u003E翻吧·與你一起學翻譯\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\u003Cp\u003E\u003Ci class=\"chrome-extension-mutihighlight chrome-extension-mutihighlight-style-4\"\u003E微信\u003C\u002Fi\u003E號：translationtips\u003C\u002Fp\u003E"'.slice(6, -6), groupId: '6719712684171854340