Home Blog Page 80

Trás-os-Montes Wine

Goncalo Costa
-
0
Trás-os-Montes Wine
Photo by Gonçalo Costa

On the interior of the North of Portugal stands a beautiful region that is still very unknown outside of the country. It’s Trás-os-Montes, its name coming from its location: behind the mountains.

The region’s borders are the mountains of Marão and Alvão and the Douro River, standing on the top eastern corner of Portugal, surrounded by Spain on its North and East. It’s known for its amazing food and natural places, but also as the mother region of the other official language of Portugal: Mirandese.

The wine from this region, with the designation ‘Transmontano VR’ (VR meaning ‘Vinho Regional’, or Regional Wine), is also relatively unknown. However, it was still the first Portuguese wine to get to Nepal!

The region houses around 10.000 hectares of vineyards, divided through 110 producers, and generates nearly 3 million bottles of certified wine, one of the lowest productions in the country.

Some areas inside of the Trás-os-Montes wine region are also classified as a DOC, or ‘Denominação de Origem Controlada’ (Controlled Origin Denomination), but not all the wine region.

The region has vineyards standing in soils with a lot of schist and granite, and at an altitude of 200 to 700 meters, Montalegre has the highest vineyard in the whole of Portugal! The different altitude in which the grapes are grown creates different wines, with the ones produced in cooler high altitude places being more light-bodied, while the lower altitude ones are more full-bodied and high in alcohol percentage.

This lesser known wine is starting to get more and more recognized, both throughout the world and inside of Portugal itself, with lots of recently graduated young people investing in producing wine in the region. So learn more about this wine to get ahead!

Portuguese Wine

History of Trás-os-Montes Wine

This region standing ‘behind the mountains’ of the North is huge and with special characteristics. You can find everything in this place, from lush green valleys, passing through olive groves and other fruit trees, until you get to the long stunning vineyards.

Paradoxically, the most recent DOC in the country is one that has a really ancient history. The production of wine in Trás-os-Montes started millennia ago, with wine presses of both the Romans and Pre-Roman peoples being found carved into several of the region’s rocks. The existence of old vineyards with century-old wine varieties also demonstrates the region’s quality and winemaking tradition.

In 2006, the ‘Indicação Geográfica Transmontano’ (Transmontano Geographical Identification), or IG Transmontano, was recognized, referring to the whole Trás-os-Montes region and making all wines grown there able to have this identification. In that same year, based on the altitude of the vineyards, their solar exposition, climate and the soils composition, subregions were delimited and the DOC Trás-os-Montes was created, composed of only the best quality lands.

The control and protection of both the DOC and the IG is made by the ‘Comissão Vitivinícola Regional de Trás-os-Montes’ (Regional Wine Commission of Trás-os-Montes), created in 1997, that has the goal of protecting and ensure the quality and authenticity of the wines produced in the region. This Commission helped develop the region and make the Trás-os-Montes wines known throughout the country and the world.

The wines are one of the less known in Portugal and the world, but still around 20% of its wines are made for export to countries with a large Portuguese presence, mainly Brazil. This is because this region is one of the historical provinces that has the biggest number of emigrants and that suffers the most with loss of population. This wine, known and consumed by the people from the region, is therefore bought by the emigrant population worldwide.

Subregions of Trás-os-Montes Wine

The DOC Trás-os-Montes is made out of 3 subregions. These were chosen with the criteria that we’ve mentioned before, due to the regions multiple microclimates, soil difference and the adaptability of the different grapes to the conditions of each place.

The name of these subregions can be found on the label, next to the region’s name. These are:

  • Chaves: Right on the northern border with Spain, on a region famous for its thermal waters, the vineyards here are usually on the hills of small valleys of the Tâmega River. The soils are mainly granitic with several schist areas and the altitude is usually of 250-300 meters above sea level. Here, there are high levels of rainfall and humidity.
  • Planalto Mirandês: Placed on a plateau in the Mogadouro Mountain, on the southwest part of the region, the Douro River is the one that bathes these vineyards. The terrain is mainly made out of schist, with an altitude of around 350 to 600 meters. There are many variations of temperature and low levels of humidity and wind. This, together with the traditional way of conducting the vines, named ‘cabeça de salgueiro’ (willow head), allows for a better vine control and the protection against several vine diseases, creating a more biological type of agriculture.
  • Valpaços: On the center of the so-called ‘Terra Quente’ (or Warm Land) of Trás-os-Montes, this subregion is very rich in water. Its wine production definitely dates back to the Roman times, since this is the region with the most wine presses dug on rocks. The soils have a bigger incidence of schist, but there are still many granitic terrains, and the vineyards are anywhere from 450-650 meters high. As for the climate, there are higher temperatures and lower humidity in the summer, as well as less rainfall.

The ‘cabeça de salgueiro’ method consists of conducting the vines at 30 centimeters, with 4 to 5 small beads. The grapes are protected inside the vines, avoiding getting burned by the sun and secured from the morning winds and the humidity. The morning moisture stays outside the plant and the grapes stay dry.

This makes so that the good hygiene of the vines requires little to no treatment. This is why agriculture is more biological here, with the General Directorate of Agriculture and Rural Development affirming that 36% of the total area of biological agriculture in Portugal exists in Trás-os-Montes.

Overall, the region’s climate is dry and hot in the summer and bellow 0ºC in winter. This allows for a slower aging process, with enough time to develop aromatic precursors and less acid degradation. The soils being of poor quality, as we’ve seen, essentially granitic and schist.

Grape and Wine Types

Photo by Antonio Sessa on Unsplash

The grape type that is planted the most in the region is Tinta Roriz, used in all of the 3 subregions, with the second one being Tinta Amarela, or Trincadeira, and the third one, Tinta Gorda, being exclusive to the Planalto Mirandês area. All of these are red wine grapes.

The main red grapes used in the region are Bastardo, Tinta Gorda, Tinta Roriz, Marufo, Touriga Franca, Touriga Nacional and Trincadeira. These wines are usually very fruity and a bit astringent. The texture is very structured and has the right acidity, not being overly nor poorly acid, besides its usually high alcohol content. They are robust but very nice and balanced wines.

As for white grapes, it’s Côdega do Larinho, Malvasia Fina, Fernão Pires, Gouveio, Rabigato, Síria and Viosinho. The white wines are smoother and flower scented, with a balanced aroma between fruity and floral. They also have just the right amount of acidity.

These characteristics will change slightly according to the subregion and grape type which they are made out of, but overall can be found on all the wines from the region.

Out of the 3 million bottles per year that are produced in Trás-os-Montes, 70% of this is red wine and only 30% is white. This explains why the main 3 grape types are red.

Trás-os-Montes Wine Suggestions: Best Wines in Trás-os-Montes

According to the Regional Wine Commission of Trás-os-Montes, responsible to awarding the best wines from the region, in 2021, these were some of the most awarded brands:

  • Casal Cordeiro
  • Encostas de Vassal
  • Encostas de Sonim
  • Persistente
  • Quinta Sobreiró de Cima
  • Adega Cooperativa de Valpaços
  • Casal D’Ermeiro
  • Quinta Valle Madruga

Trás-os-Montes Wine Tasting Tour

Book this tour to explore both the region of Douro and Trás-os-Montes in this trip starting from Porto. Experience the typical food and wine from these regions with a food and wine guide. Listening to the history and culture from these places while having a taste of a Douro sparkling wine and a Trás-os-Montes regional wine will make you fall in love for these stunning regions on the interior of Portugal.

Book Tras-os-Montes, Douro Touro with Food and Wine Tastings

Monkeypox: DGS admits there is an outbreak in Portugal

Lara Silva
-
0
Monkeypox: DGS admits there is an outbreak in Portugal

The Directorate-General of Health of Portugal (DGS) has told CNN that the five cases of monkeypox identified in Portugal constitute an outbreak. Margarida Tavares, the director of the National Program for STDs and HIV for DGS said on Wednesday in a press conference that “we can use the word outbreak because we can mention an outbreak anytime there is an increase in cases above what we expected. We did not expect any case in Portugal. If we have 5 confirmed cases we can mention an outbreak”.

The 5 cases of monkeypox in Portugal were confirmed in Lisbon and Vale do Tejo. The authorities do not yet know the origin of the infections and the cases are not related. According to Margarida Tavares, the cases were all identified in STD clinics and all those infected are men. The cases are all mild and none of the infected men have been hospitalized.

Although only 5 cases have been confirmed, DGS has confirmed that there are over 20 suspected cases in the month of May in the region of Lisbon and Vale do Tejo.

Monkeypox can be transmitted via broken skin like a wound, the respiratory tract, or the mucous membranes (eyes, nose, or mouth). Margarida Tavares has told the public to look out for symptoms such as fever, myalgia, headaches, and skin or mucosal lesions.

According to the WHO, within 1 to 3 days after the appearance of fever, infected people often begin developing a rash. Monkeypox usually lasts between 2 to 4 weeks.

Monkeypox is a rare disease that is caused by the infection of the monkeypox virus and was first discovered in 1958 in colonies of monkeys. The first human case was recorded in 1970 in the Democratic Republic of Congo (DRC).

Monkeypox cases have been confirmed in other countries in Europe. Seven cases have been confirmed in the United Kingdom and eight men have shown symptoms in Spain.

The UK Health Security Agency (UKHSA) was the first to report a case of monkeypox in Europe. They have stated that those infected all self-identify as gay, bisexual, or other men who have sex with men. Dr. Susan Hopkins, the agency’s chief medical adviser, has said “we are particularly urging men who are gay and bisexual to be aware of any unusual rashes or lesions and to contact a sexual health service without delay”.

However, many Portuguese LGBT+ activities have criticized this framing, stating that monkeypox can spread in humans regardless of sexual orientation and many are making references to the media’s rhetoric during the AIDS crisis. Renato Duarte from Renascença Radio posted an Instagram post that said “establishing a cause and effect relationship between the virus and the LGBTQIA+ community is dangerous, irresponsible, and immoral. It has no scientific backup and contributes to the stigma… No type of infectious virus is exclusive to individuals from a sexual orientation”. He also argued that it is in fact dangerous to send this message, allowing for a false sense of immunity among heterosexual individuals.

Guide to Taxes: The Tax System in Portugal

Lara Silva
-
11
Guide to Taxes: The Tax System in Portugal

Looking to move to Portugal and wondering how to navigate the complexity of Portuguese taxes? You have probably heard that Portugal has some pretty high income taxes, but in truth, new residents can benefit from much lower tax rates. The Portuguese tax year runs from 1 January to 31 December. Workers must complete their tax returns for 2021 between 1 April and 30 June 2022. Self-employed people can pay their tax in three installments, July, September, and December. This guide to taxes in Portugal has everything you need to know, from income and property tax to the non-habitual tax regime.

Do foreigners need to pay tax in Portugal?

If you are a tax resident in Portugal, meaning you reside in Portugal for 183 days or more a year, you need to pay income tax on your worldwide income. If you live in the country for less than 183 days, you only pay tax on what you earn in Portugal. However, many expats in Portugal can enjoy the non-habitual resident (NHR) tax regime.

Non-Habitual Resident (NHR) Tax Regime

The Non-Habitual Resident (NHR) tax regime in Portugal attracts thousands of residents by offering reduced tax rates and even full tax exemptions for the first ten years of residence. The NHR tax regime was introduced in 2009 and is available to all new tax residents in Portugal that were not tax residents in Portugal for the 5 years prior. Let’s go through the main benefit of the NHR tax regime.

Personal Income Tax (IRS): 20% Flat Tax

Some NHRs are taxed at a flat rate of 20% on their income and are exempt from paying taxes on global income. Those who work in Portugal (freelance or regular employment) under the NHR tax regime only pay a 20% flat rate on personal income tax (IRS). To be considered “high value”, the job must be related to activities of scientific, artistic, or technical character. See what you would save below with a high-value tax rate under the regime.

Global Income

You will also not pay any tax on dividends, interest, royalties, capital gains, rental income from real estate outside Portugal, and income from employment in another country. These will be paid in the source country if your country has a Double Taxation Agreement (DTA) with the country. The UK, USA, and many more countries have a DTA with Portugal where this is the case. Therefore, you could be working for an American or English company and not pay any income tax in Portugal under the DTA. Rather, you would pay taxes in the US. You could also just choose to pay the flat tax rate of 20% if you fall under a “highly qualified professional” or if the latter is the case and you are paid by a Portuguese source.

These benefits only last 10 years. Take a look at our guide to visas in Portugal to obtain long-term residency and be able to enjoy this attractive tax regime.

Guide to the NHR Tax Regime

VAT in Portugal

Known as IVA in Portuguese, VAT is paid by consumers when purchasing goods and services. The seller receives the VAT and then pays it to the tax authorities.

The VAT rate varies around Portugal. For mainland Portugal, the rates are either 6%, 13%, and most commonly 23%. In the Azores, the VAT rate is either 5%, 10%, or 18%. In Madeira, the VAT rate is either 5%, 12%, or 22%.

Self-employed people and companies that produce, market, or provide products and services in Portugal must pay the VAT to tax authorities.

Income Tax in Portugal

If you can take advantage of the NHR tax regime, the general income tax rate will not apply to you. However, even under the NHR tax regime, after 10 years, you will have to pay the general income tax rate, also known as the imposto sobre o rendimento de pessoas singulares (IRS) in Portugal. Most workers pay taxes automatically through their pay slips, but everyone must still complete an annual tax return. If you are married, you must submit a joint return with your partner. To calculate the tax rate applied to you as a married couple, your collective income will be divided into two. The rates below are applied currently.

Tax Reductions Under Proposed State Budget 2022-2023

However, under the new state budget, the tax rate will be altered from 7 tax brackets to 9, making it more progressive and fiscally unburdening the middle class. There will also be tax benefits for those with a second child. These proposed changes under the state budget are set to pass as the Socialist Party (PS) now holds a majority in parliament.

In a simulation for TVI/CNN Portugal, the consulting firm PwC estimates that a single person without children with a gross income of €1.250 per month will save €53 a year due to tax bracket change. This value doubles for couples without children with the same gross income. Couples with children will save even more.

Do you pay income tax if you are self-employed in Portugal?

Yes. Freelancers and those that are self-employed in Portugal pay income tax, rather than a corporate tax. Therefore, the general IRS rates apply, unless you can take advantage of the NHR tax regime or the 10 years of your status are over. You will also be paying your own social security, taxed at 21.4% for self-employed individuals. Self-employed people with a turnover of more than €10,000 on taxable goods and services must also pay VAT.

You can also deduct business expenses such as the rent of your office and utility bills, which will not be calculated in your taxable income. However, there are limits to this. Expenses for travel and entertaining clients can only be deducted if they amount to less than 10% of your overall income. If you work from home, you can claim expenses up to 25% of your overall income.

Freelancers can also take advantage of the simplified regime where they pay income tax on 75% of their overall income and the remaining 25% is offset with expense receipts. If you make over €200,000 you aren’t eligible for the simplified regime.

Guide to Working in Portugal

Corporate Tax in Portugal

Corporate tax is set at a flat rate of 21% on taxable profit, slightly below the EU average. Small and medium-sized businesses paid a discount fee of 17% in mainland Portugal, 11.9% in Madeira, and 12.5% in other areas on their first €25,000 of taxable profit.

If your company turns over more than €10,000 a year, you’ll need to pay VAT. Along with corporate tax, you need to pay a surcharge to your local municipality, at around 1.5% on the profit charged by the regional municipality. Other surcharges on top of your corporate tax bill include:

  • 3% state charge on profit between €1.5 million and €7.5 million (2.1% in Madeira, 2.4% in the Azores)
  • 5% surcharge on profit between €7.5 million and €35 million (3.5% in Madeira, 4% in the Azores)
  • 9% surcharge on profit over €35 million (6.3% in Madeira, 7.2% in the Azores)

Social Security

If you are working in Portugal, either employed or self-employed, you will also have to pay social security which will one day assure you a retirement pension. The Portuguese Social Security is a system that also secures the basic rights of citizens and ensures equality in opportunities, providing measures of support such as unemployment allowances, paternal leave, and other financial support.

Employees pay 11%, while their employers pay 23.75%. Those who are self-employed pay 21.4%.

Inheritance Tax in Portugal

Inheritance tax has been abolished a few years ago, but you must still pay stamp duty, Imposto de Selo, which is 10%. In Portugal, inheritance law follows forced heirship rules. This means that legitimate heirs get a minimum of 50% of the deceased's estate. If there is more than one, this usually increases to 60%.

There is no wealth tax in Portugal.

Property Taxes in Portugal

If you are buying a house in Portugal, you must pay a number of property taxes to the government. You’ll need to calculate each of them, which a Portugal property tax calculator is helpful. Property owners have to pay three types of taxes:

1. Municipal Property Tax (IMI)

The IMI translates to Imposto Municipal Sobre Imóveis and will be different in each municipality. This money is used to maintain public infrastructures in municipalities. The IMI rates usually range from 0.3% to 0.45%. To calculate the IMI, you multiply the value of the tax asset with the IMI rate. You must pay the IMI every year. For example, if your property is valued at €500,000 and you live in the municipality of Cascais with a rate of 0.34%, then your yearly IMI is €1,700. You can be exempted from the IMI if your annual taxable income of the whole household does not surpass €15,295.

2. Property Purchase Tax (IMT)

The IMT is also known as the Imposto Municipal sobre as Transmissões Onerosas de Imóveis. This tax is paid when a house is bought in Portugal, so it is a one-time payment for buying a house. The rate of the IMT will depend on the type and value of the property, as well as whether this property is a principal or secondary residence. You must pay this before you buy a house. This is how you calculate the IMT = value of the deed or net worth tax (the larger amount) x rate – tax reduction. You won’t have to pay IMT if you buy a house in mainland Portugal and the price doesn’t exceed €92,407. IMT usually will range between 2% to 8%, depending on the case. However, properties acquired by companies located in a “blacklisted jurisdiction” pay 10% for IMT.

3. Tax on Stamps (IS)

You’ll also need to pay an Imposto de Selo, a stamp tax, contracts, loans, documents, and more. The rate also changes depending on the property and task, but it is usually between 0.4% and 0.8%. For example, for a mortgage of five years, the stamp duty tax is 0.6%.

Guide to Real Estate in Portugal

Taxes on Cryptocurrency: Is Portugal a crypto tax haven?

The Portuguese Tax & Customs Authority (PTA) officially announced in 2019 that buying or selling cryptocurrency in Portugal is tax-free. Portugal does not view cryptocurrencies as an asset, but rather as a form of payment so they do not tax it as the former. Cryptocurrency is treated like any other currency, essentially. You will not be charged VAT or Personal Income Tax (IRS), as an individual. However, businesses that provide services related to cryptocurrency are taxed on gains between 28% and 35%. If you trade cryptocurrency as your primary income source (as your main profession) you will also be taxed this amount. There are many factors that determine whether this is the case like your profit and the frequency of your trade. To be sure, contact a tax advisor in Portugal.

If this is not the case for you, you can cash out your crypto into fiat currency (euro) without paying any tax. At times, Portuguese banks will contact you and ask you for a receipt or proof of exchange.

However, this is likely to change in the near future. In mid-May 2022, The new Minister of Finance Fernando Medina confirmed in parliament that cryptocurrencies will be subject to taxation in the future. While details are not yet set in place for the taxation of crypto in Portugal, the government has said the future plan will include, among others, a tax on the gains of selling cryptocurrencies such as bitcoin. The Secretary of State for Fiscal Issues Mendonça Mendes also announced that the government will not only tax crypto gains but cryptocurrencies will be included in other types of taxation, such as VAT (known as IVA) and Stamp Tax (known as Imposto de Selo).

Guide to Crypto in Portugal

Temperatures will reach over 35°C degrees in Portugal this weekend

Lara Silva
-
0
Temperatures will reach over 35°C degrees in Portugal this weekend

Temperatures will reach over 35°C degrees in regions of mainland Portugal on Friday and Saturday, leading to a risk of fires. The heatwave will be caused by hot air coming from North Africa which will also lead to dust, according to the Portuguese Institute of the Sea and Atmosphere (IPMA).

Paula Leitão from the IPMA has said that the regions of Northern and Central Portugal are cloudy and facing rain today, but that after Thursday temperatures will slowly begin to increase, with high temperatures coming on Friday and Saturday. Friday is projected to be the day with the largest temperature increase, particularly in the region of Alentejo.

Temperatures are above the normal amounts at this time of year, even minimum temperatures. Paula Leitão has said that minimum temperatures will also be high for this week at 20°C in some districts. However, after Sunday, temperatures will start to decrease and rain and thunder are expected.

A cloud of dust from North Africa is coming from the Sahara desert and moving through the Atlantic between May 12 and 17. The dust is expected to reach western Europe between May 20 and 21. Hot temperatures are also coming to Spain and France this week.

23 Best Restaurants in Porto

Lara Silva
-
0
23 Best Restaurants in Porto

Porto is one of our top favorite cities in Europe to visit – and eat in. The home town of francesinhas and port wine over 1 million tourists visit Porto every year to discover the incredible cuisine of the second-largest city in Portugal. Along with Lisbon, Porto is a foodie’s dream vacation spot. From authentic Northern restaurants that serve peasant-like food to vegan and Michelin star restaurants, Porto has a meal to satisfy anyone’s hunger at any price point. Here are the 29 best restaurants in Porto for a meal you will not forget.

Book a food experience in Porto

1. Antiqvvm

Located in Rua de Entre Quintas, Antiqvvm has one of the best views of the River Douro from its garden. The restaurant was opened by Chef Vitor Matos who uses local ingredients to produce dishes, picking out produce by season. Antiqvvm holds one Michelin star and one of the top dishes at this place is the red mullet with cauliflower and sea urchin sauce. The wines at the restaurant are specially selected by sommelier António Lopes. You can choose from a set menu or opt for the à la carte menu where vegetarian options are available. A set menu here will cost you at least €135 and the wine menu €65.

Photo provided by restaurant
Photo provided by restaurant
Photo provided by restaurant

2. Pedro Lemos

Located in a restored ancient stone house, Pedro Lemos was opened in 2009 by Chef Pedro Lemos, making it the first restaurant in Porto to receive a Michelin star. You’ll find this place in Foz, a historical neighborhood of Porto, 20 minutes away from the center of the city. For a more exclusive dinner, book the wine cellar for a special occasion. This place has a rooftop terrace to enjoy the view of the river. Menus start at €120 per person where you can taste 8 dishes. The menu for wine starts at €65 and these are carefully selected to pair with your meal.

3. Taberna Santo António

If you want to feel at home surrounded by Portuguese culture, Taberna Santo António is the right bet. An authentic tasca (Portuguese tavern), this restaurant is the perfect place to taste traditional dishes, from codfish to fish soup. Most dishes here cost under €8, making it a top spot in Porto to enjoy a large meal for a cheap price.

4. Enoteca 17.56

One of the trendiest restaurants in Gaia, Enoteca 17.56 has a cool atmosphere and a modern interior design. With a terrace offering a gorgeous view of Porto and the Douro River, this restaurant is also a great spot for a sunset drink. Enoteca is known for its sushi, fillet steaks, and focaccia, as well as an extensive wine list. You can get a full meal here for €60 to €80.

Photo provided by restaurant.
Photo provided by restaurant.
Photo provided by restaurant.

5. Arvore do Mundo

Arvore do Mundo is one of our favorite vegan restaurants in Porto. With a great outdoor terrace to enjoy those sunny days, this place has a relaxing environment. They also have a gallery indoors where you can check out local art. This vegan restaurant has lunch menus for €10 per person and the average cost for dinner is around €12 per person.

6. O Tasco

Known for its quality hospitality, o Tasco serves traditional meat and fish dishes with a contemporary twist. Close to Liberdade Square, o Tasco has a romantic environment, perfect for a special date night. Although this restaurant’s focus is meat dishes such as black Angus and fish dishes such as cod, they also offer a tasty vegan polenta. A meal here will cost you anywhere between €20 and €30.

7. Kind Kitchen

As the name suggests, this place is plant-based and cruelty-free. From a vegan version of the iconic Porto dish Francesinha to Buddha bowls, burgers, and cakes, Kind Kitchen is vegan heaven. The restaurant is located in Baixa and has a gorgeous open-style kitchen so that you can watch your food get prepared. The lunch menus are under €10 per person and the average cost for dinner is around €12 per person.

8. Le Monument Restaurant

Curated by French Chef Montbabut, Le Monument Restaurant’s 10 to 14-course menus take guests on a culinary adventure across Portugal. The restaurant is located in the trendy Monumental Palace Hotel in the iconic Aliados Avenue, for an elevated night out. You can get a meal here for €80.

9. The Yeatman

Located in a 5-star hotel in Vila Nova de Gaia, the Yeatman features exceptional seasonal tasting menus by Chef Ricardo Costa. The menus reflect Portuguese flavors, but with a more modern twist, away from the traditional, while still respecting the culture. This place is known for its wine pairings and has two Michelin stars. The Yeatman also has a gorgeous view of Porto and the Douro River. The tasting menu here costs €180 per person.

Photo provided by restaurant.
Photo provided by restaurant.

10. Casa Guedes

You know a place is good when they have over three restaurants around the city. Known for having the best sandes de pernil in the city, a classic roast pork butt sandwich with mountain cheese. The first restaurant opened in 1987 by the Correia brothers as just a small snack bar. In 2019 and 2020, two more restaurants were founded: Casa Guedes Rooftop and Casa Guedes Progresso. The best part – their sandes de pernil only costs €3.90. You can also try out their variety of sandwiches such as their Portuguese ham, cured black pork, and soft sheep cheese sandwich. You can get a whole meal here for €6.

11. Tasquinha Ze Povinho

A family-run tasca, Tasquinha Ze Povinho offers homemade authentic dishes that reflect Portuguese roots, rather than cater to the tastebuds of tourists. You know that you will be tasting the real deal here. And the prices reflect just that! You can get a meal here for under €7, including a drink, coffee, and dessert. From francesinhas to tripas à moda do Porto, we can just recommend one dish on the menu.

12. Restaurante Chama

Located in the historical center, Restaurante Chama offers a unique gastronomical experience. Chama translates flame, since this place serves primarily grilled food and “sustainable slow-burning food”. With a high-quality bartender producing amazing cocktails and an extensive wine list, Chama is the perfect place for dinner and a drink. Produced by the chef, we recommend the Chef Moreno Menu for only €23.50. The restaurant also has a vegan dish for less than €10.

Photo provided by restaurant. Credit to Ana Almeida.
Photo provided by restaurant. Photo by @GI.ROMANO.IG

13. Meia-Nau Porto

Meia-Nau is a seafood and fish restaurant in Matosinhos. You’ll find some of the best traditional seafood dishes here as the fish is sourced from local markets. Meia-Nau also offers a range of cocktails and a sophisticated wine list. We recommend the octopus salad, the fish soup, and the seafood rice. You can get a meal here for €30 to €50.

14. Morabeza Boavista Porto

A fusion of African and Portuguese cuisine, Morabeza Boavista is located on Rua Nossa Senhora de Fatima. The Chefs seek to show guests that by mixing culture, art, and gastronomy, you get the perfect combination. We recommend trying the moamba, a chicken stew that is popular in Central Africa and the national dish of Angola. You can get a meal here for less than €20.

15. Bilha Nova

Located in Miragaia, Bilha Nova offers authentic Portuguese dishes with an elevated twist. The rustic decor provides an inviting and comfortable ambiance. We recommend the seafood rice and steak. You can get a meal here for €15.

16. Blind

Blind is a dimly lit restaurant that allows you to use all the rest of your senses to appreciate the food. The restaurant is small, with only around four tables available. Located in the Torel Palace Hotel Porto, the restaurant offers an unbelievable tasting menu for lunch and dinner. A tasting menu here will cost you at least €100.

17. A Cozinha do Manel

A traditional Portuguese restaurant, a Cozinha do Manel opened in 1989 by the Mendes family, making it a family-run restaurant. With a rustic appeal, they specialize in meat and fish dishes, as the best traditional Portuguese restaurants do. We recommend the codfish and alheira, a meat and bread sausage. You can get a meal here for less than €20.

Photo provided by restaurant. Credit: Sara Vingadas – Epifania Digital
Photo provided by restaurant. Credit: Sara Vingadas – Epifania Digital
Photo provided by restaurant. Credit: Sara Vingadas – Epifania Digital

18. Shiko

A Japanese restaurant, Shiko combines Japanese food such as sushi with the environment of a Portuguese tasca. There are two Shiko locations, one in Foz do Douro and another in the center of Porto. Chef Rui Leão uses local fresh products such as tuna and sardines to make quality sushi and hot share plates. A meal here will cost you €25.

19. Cantinho do Avillez

Located in Rua Mouzinho da Silveira, Cantinho do Avillez, was founded by the famous Portuguese Chef Jose Avillez. Cantinho do Avillez is incredibly well decorated, with a retro feel and a homely environment. The restaurant offers main courses such as risotto and octopus, as well as shared tapas. You can enjoy a meal here for €20.

20. Taberna dos Mercadores

Located in Ribeira, Taberna dos Mercadores offers regional dishes of Porto such as prawn açorda, a bread soup, and a meat pot. The interior is filled with hundreds of wine bottles of the best quality. The best part about this restaurant is the friendly staff who will make you feel like you are a part of their family. You can enjoy a meal here for less than €20.

Photo provided by restaurant. Credit to Estudio Cozinha
Photo provided by restaurant. Credit to Estudio Cozinha

21. Restaurante Casario

Chef Miguel Gastro e Silva and Chef Jose Guedes offer an elevate gastronomic experience at Restaurante Casario, located in Ribeira. The tasting menus are paired with some of the best wines in the world, stored in a Cellar with over 60 brands. Unlike other fine dining restaurants, Casario has affordable menus starting at €48 for a 5-course menu.

22. My Green Pastry

Most vegans will tell you, there’s nothing sadder than having to miss out on local pastries and desserts on a trip. Luckily, my Green Pastry will satisfy anyone’s sweet tooth and everything is plant-based! This place also has savory snacks and all products are made of seasonal ingredients, packaged with plastic-free materials. They also have a large brunch on Saturdays for €18.

Photo provided by restaurant. Credit: Micael Afonso
Photo provided by restaurant. Credit: Micael Afonso

23. Belos Aires Restaurante

A restaurant that incorporates Portuguese and Argentinian cuisine, Belos Aires has one of the best rib-eye steaks in Porto. Produced by Chef Mauricio Ghiglione, the restaurant features Argentinian classics, as well as Portuguese dishes such as baked codfish. This place features an extensive wine list from Portugal and Argentina. You can get a meal here anywhere between €20 to €30.

Awaiting authorization. Photo by J. Miguel Lopes
Awaiting authorization. Photo by J. Miguel Lopes

Take a look at our full guide to Porto, from hotels to activities, we have got you covered.

⬇️Please share your favorite restaurants in Porto in the comments below⬇️

Portugal’s GDP growth forecast for 2022 largest in the EU

Lara Silva
-
0
Portugal’s GDP growth forecast for 2022 largest in the EU

Portugal’s economy has seen the most growth in the European Union in a year, according to the European Commission. Brussels projects that the country’s Gross Domestic Product (GDP) will increase by 5.8% in 2022, particularly due to tourism. The European Commissioner for the Economy, Paolo Gentiloni has said “the reopening of tourism to a country mostly based on external rather than internal tourism also played an important role”.

Ireland is the second country after Portugal with the most positive GDP growth at 5.4%. The projections for the European bloc and the eurozone are just 2.7% for 2022. However, Portugal’s growth project is the highest among the EU member states because it did not grow as strongly in 2021 compared to other countries. Portugal’s GDP increased by 4.9% in 2021, below the EU average of 5.4%. The projection also states that the Portuguese economy’s growth in 2023 will be lower, with a growth of 2.7%.

A report by the European Commission has stated that “the growth projects remain favorable, despite struggles related to the prices of commodities, global supply chains, and greater uncertainty in external demand”.

The European Commission has also predicted that inflation in Portugal will reach its peak in the second trimester of this year and gradually stabilize. The Harmonised Indices of Consumer Prices (HICP) are projected to increase from 0.9% in 2021 to 4.4% in 2022, before decreasing to 1.9% in 2023.

The unemployment rate is also projected to decrease to 5.7% this year and to 5.5% in 2023. In 2021, the unemployment rate stood at 6.6%. The European Commission’s projection is more favorable than the one released by the Portuguese Ministry of Finance which estimates the unemployment rate will decrease to 6% in 2022 and 5.7% in 2023.

Prime Minister António Costa said on Twitter that the “economic projects published today by the European Commission are very favorable to Portugal, surpassing even the current projects of growth of the government”. 

Porto Shopping Guide: Where to Shop in Porto?

Lara Silva
-
0
Porto Shopping Guide: Where to Shop in Porto?

While Lisbon is more known for its fashion, Porto has a wide variety of stores for shopping lovers to explore. From high-end brands, mainstream Inditex brands, and vintage and sustainable stores, Porto has a lot to offer. This shopping guide to Porto has everything you need to know so you are ready for your next fashion spree, such as the best shopping malls and shopping streets.

Best Shopping Malls in Porto

Alameda Shopping

Founded in 2005, Alameda Shopping hosts around 121 stores over 5 floors and 38,427 square meters. Located next to the Estadio do Dragao, the shopping features a large Continente hypermarket and brands such as Sportzone, Intimissi, Zara, Massimo Dutti, H&M, and more. Alameda Shopping also features a seven-screen NOS cinema.

Shopping Cidade do Porto

Shopping Cidade do Porto is located next to major cultural and touristic references and hosts over 5 million visitors a year. The shopping features hundreds of stores from fashion to food, as well as a large supermarket. You can find multiple stores here including Mango, United Colors of Benetton, Intimissi, and more.

Peninsula Boutique Center

Located on Praca do Bom Sucesso, this smaller boutique center is a Porto style and fashion reference, with over 20 boutiques of various brands. The center also hosts fashion events, cultural initiatives, and wellbeing events. You can find stores such as Massimo Dutti, Bimba Y Lola, Carolina Herrera, Adolfo Dominguez, and more.

ViaCatarina Shopping

Located in the center of Porto, ViaCatarina shopping has over 95 shops throughout its 4 floors and 11500m2. The shopping mall features retail stores for fashion and home goods, as well as a food court and a rooftop restaurant. You can find stores such as Levi’s, H&M, NewYorker, Jean Louis David, and more.

Best Shopping Streets in Porto

Rua de Santa Catarina

Rua de Santa Catarina is the most iconic shopping area in Porto. Beginning in Batalha square, ViaCatarina shopping is located on this main shopping street. The street is packed with fashion brands such as H&M, Footlocker, Springfield, Tezenis, and more.

Photo by Francisco Anzola (Flickr)

Avenida da Boavista

Avenida da Boavista is around 5 kilometers long, making it the longest avenue in Porto. The avenue is home to main attractions such as Casa da Musica and Fundacao Serralves, as well as a large concentration of stylist ateliers and high-end brands.

Rua de Cedofeita

Another famous shopping street, Rua de Cedofeita features several independent shops that you won’t find in shopping malls. Extending over 800 meters, from Praca de Carlos Alberto to Rua de Boavista, the street features stores at Lefties, Me Allegro, and TeeLegend.

Second-Hand Shopping in Porto

3 Best Vintage Stores in Porto

1. Mao Esquerda Vintage

Founded by two women, Mao Esquerda Vintage sells vintage clothing from the 40s to the 80s. The store was founded through a passion to commit to environmental responsibility and fighting the impact of the textile and fashion industry. You can find trendy flower-print shirts and men’s jean jackets for affordable prices.

2. Mon Pere Vintage

An affordable vintage store, Mon Pere Vintage often hosts weekend discounts where all products are 50% off or 1 euro each. This store has lovely vintage dressed, bathing suits, and an extensive Levi’s selection, boasting popular brands for cheap prices.

3. Humana Vintage

Humana Vintage has stores all over the country, including one in Porto. The brand is committed to fighting climate change and 100% of the profits from the stores are donated to social causes. You can find a range of vintage pieces at Humana such as leather jackets, jeans, and vintage dresses.

3 Best Second-Hand Markets in Porto

1. Vandoma Flea Market

Vandoma Flea Market has been operating for decades and became regulated after 1984, making it completely legal. The market happens every Saturday in an area along the riverside. You can find loads of products here from vinyl records, clothes, and furniture.

2. The Urban Market

Located in Hard Club, a live music venue, Urban Market gathers creatives and designers from fashion, jewelry, art, ceramic, food, and music. Sometimes the market takes place in other locations so watch out for that, such as Praca das Cardosas, across the street from Sao Bento train station.

3. Mercadinho dos Clerigos

Located near the historical tower of Clerigos in the city center, Mercadinho dos Clreigos is a monthly market that hosts performances, as well as handmade products, food, flowers, and clothes, as well as bio and organic food products.

Guide to Porto

⬇️Please share your favorite places for shopping in Porto in the comments below ⬇️

Eurovision 2022: Portugal in 9th place with 207 points

Lara Silva
-
0
Eurovision 2022: Portugal in 9th place with 207 points

Portugal finished 9th in the Eurovision Song Contest 2022 on Saturday night, after getting 5th place by the national juries. The country has reached this position in two other Eurovisions. Maro’s performance of “Saudade, Saudade”, an indie-pop track was accompanied by the voices of Beatriz Fonseca, Beatriz Pessoa, Carolina Leite, Diana Castro and Milhanas. 

The results of the Eurovision Song Contest 2022 are decided by a national jury for each country and televotes from the public at home (50% each). Even countries that did not qualify for the final get a jury, amounting to 40 countries. Each jury also gives 12 points to one country that is their favorite. Unfortunately, Portugal did not receive 12 points from any jury. Portugal received 36 points from televotes and 171 points from jury votes, winning a total of 207 points.

 

Let’s look at the voting and points for Portugal. Only 36 points were televotes from the public, with only France (6 tele), Belgium (1 tele), Spain (4 tele), Italy (1 tele), Lithuania (7 tele), Switzerland (7 tele), Armenia (4 tele), Montenegro (5 tele), and Poland (1 tele). All other 16 countries gave Portugal 0 points from televotes.

Regarding jury points, Italy and Spain were the only two countries to give Portugal 0 points. The 171 points from the jury came from Albania (1 jury), France (1 jury), Moldova (2 jury), United Kingdom (3 jury), Greece (3 jury), Slovenia (3 jury), Bulgaria (4 jury), Ireland (4 jury), Czech Republic (5 jury), Iceland (5 jury), Australia (6 jury), Belgium (5 jury), Latvia (6 jury), Azerbaijan (7 jury), Estonia (7 jury), France (1 jury), Georgia (7 jury), Romania (7 jury), Serbia (7 jury), Denmark (8 jury), Netherlands (8 jury), Poland (7 jury), Montenegro (4 jury), Austria (10 jury), Croatia (10 jury), Norway (10 jury), Ukraine (10 jury), Armenia (8 jury), Switzerland (5 jury), and Lithuania (8 jury).

The band Kalush Orchestra from Ukraine was crowned first place, as predicted. The performance reflected a fusion between folk music and rap.

Last year, Portugal’s Black Mamba finished 12th place with the song “Love Is On My Side”. Portugal has only won the Eurovision Song Contest once in 2017, with Salvador Sobral’s song “Amar Pelos Dois”.

The first time Portugal participated in Eurovision was in 1964, missing five editions in 1970, 2000, 2002, 2013, and 2016.

⬇️Who was your favorite country at Eurovision? Let us know in the comments below⬇️

Europe’s largest floating solar panel farm built in Portugal

Lara Silva
-
1
Europe’s largest floating solar panel farm built in Portugal

A floating solar farm of 12,000 solar panels will be ready to produce power in July of this year in Portugal’s Alqueva reservoir on the Guadiana River in Alentejo. This will be Europe’s largest floating solar park on a reservoir in Europe, the size of four football pitches. Built by EDP, a Portuguese electric utility company will generate 7.5 GWh a year and power around 1,500 households in the region, more than 30% of the families in the region. The project involves a total investment of 6 million euros.

This innovative technology is expanding all over the world and the Alqueva project is focused on hybridization, combining hydro and solar energy using only one point of access to the electricity grid. The floating solar park also includes the installation of a battery with a storage capacity of 2MWh, another groundbreaking innovation.

The floating solar park is part of Portugal’s plan to stop relying on imported fossil fuels that have increased in price since Russia’s invasion of Ukraine, according to Reuters. Portugal relies on Russia for 10% of its natural gas, making the transition to renewable energy urgent. Luckily, Portugal has one of the highest levels of solar resources in European countries.

However, EDP wants to find the most suitable geographic areas to install such renewable energy projects. EDP found that using the Alqueva reservoir is the perfect opportunity as it avoids occupying other areas on land that are useful for agriculture. Moreover, it allows EDP to “take advantage of the connection to the already installed electricity grid that hydroelectric plants do not steadily use”.

Photo provided by EDP.
Photo provided by EDP.

This project will also make electricity more affordable to consumers. The EDP group director in charge of this project has said that the electricity produced from the floating solar farm will cost a third of the one produced from a gas-fired plant.

This floating solar farm on a hydropower reservoir can be connected to existing links to the power grid making it cost-effective and “excess power generated on sunnier days can pump water up into the lake to be stored for use on cloudy days or at night”, according to Reuters.

The executive board member of EDP Ana Paula Marques told Reuters that the war in Ukraine means Portugal needs to accelerate its transition to renewable energy. She said the floating solar park project is part of EDP’s strategy “to go 100% green by 2030”.

The Alqueva project leads to a reduction of the carbon footprint at around 30% for floats supplied with this composite. EDP is working toward making its carbon footprint neutral or even negative in the future.

EDP already has plans to expand this project in Alqueva. Back in April, the company obtained the right to build a second floating solar farm with a capacity of 70 megawatts.

Medina confirms crypto will be taxed in Portugal

Lara Silva
-
0
Medina confirms crypto will be taxed in Portugal

For the past few years, Portugal has been called one of the last crypto tax havens in Europe. However, it seems this is coming to an end in the near future. The new Minister of Finance Fernando Medina confirmed in parliament on Friday that cryptocurrencies will be subject to taxation in the near future. Medina said that “many countries already have systems, many countries are building their models in relation to this subject and we will build our own”.

How is Portugal a crypto tax haven currently? Portugal does not view cryptocurrencies as an asset, but rather as a form of payment so the country does not tax them as the former. Cryptocurrency is treated like any other currency, essentially. You will not be charged VAT or Personal Income Tax (IRS) as an individual. However, businesses that provide services related to cryptocurrency are taxed on gains between 28% and 35%.

While details are not yet set in place for the taxation of crypto in Portugal, the government has said the future plan will include, among others, a tax on the gains of selling cryptocurrencies such as bitcoin. The Secretary of State for Fiscal Issues Mendonça Mendes also announced that the government will not only tax crypto gains but cryptocurrencies will be included in other types of taxation, such as VAT (known as IVA) and Stamp Tax (known as Imposto de Selo).

The Left Bloc (BE) proposes that cryptocurrencies be taxed in Personal Income Tax (IRS) like any other gain, arguing it would be disappointing if the Socialist Party (PS) rejects this change to the State Budget for 2022 to end the current “offshore of cryptocurrencies”. The member of parliament for BE Mariana Mortágua told the media, “It is unbelievable how the PS refuses to tax fortunes created within seconds on the internet while maintaining the VAT on electricity and not increasing the minimum wage in the context of inflation”.

Mendes has said that the taxation of cryptocurrencies is not as simple as Mortágua makes it out to be. He said, “We are evaluating by comparing internationally what is the definition of crypto assets, which includes cryptocurrencies. We are evaluating the regulations in this area, be it in the fight against money laundering and the regulation of markets, to present a legislative initiative that truly serves a country in all aspects, not a legislative initiative that makes the front cover of a paper”.

1...798081...100Page 80 of 100

Portugal.com is an independently owned and operated tourism portal about Portugal. All information should be considered informational and for entertainment purposes. Some content may be promotional and/or have affiliate relationships where Portugal.com earns revenue promoting the content.

Want to advertise on Portugal.com? Would you like to write for us? Something else? Please feel free to Contact Us!

© Portugal.com