With the approval of the 2020 State Budget, changes were approved to the Non-Habitual Residents Tax Scheme, with the objective of decreasing the tax benefits granted to the non-habitual residents and to decrease the gap with non-NHR pensioners who are submitted to progressive tax which can reach 48%.
One of the measures translates in the approval of a fixed tax rate of 10% for foreign pensions, but will not include those who have already applied for the NHR or those whose are already tax resident and whose application will be made until 31st March 2021.
The candidate can choose to be subject to the new or the old law.
To note that, at the moment, the pensions benefit from tax exemption when certain requirements are fulfilled.
Regarding other earnings form dependent or independent work earned by non-habitual residents in foreign countries, this may also be subject of change, namely the demand of effective taxation in the State where the money was earned.