Portugal: CIT - Special Payment on Account


Law no, 10-A/2017, of 29 March, was officially published which reduces the amount of the special payment on account foreseen in article 106.º of the Corporate Income Tax Code for the fiscal years of 2017 and 2018.

According to this legislation, the special payment on account, to be paid by taxable persons in the taxation periods of 2017 and 2018, shall benefit from the following reductions:
     a) Reduction of € 100 on the amount calculated in accordance with article 106.º of the CIT Code; and
     b) Additional reduction of 12.5% on the amount resulting from the application of the previous paragraph.
During the year of 2017, only taxable persons who, during the taxation period started in 2016, have paid or made available employed work income to Portuguese resident individuals in an amount equal to or greater than € 7,420 will benefit from said reductions, being that in the year of 2018 these reductions will be extended to all taxable persons. Please note that, in both taxation periods, such reductions will only be applicable provided that, on the date of payment of each installment of the special payment on account, the taxable persons’ tax and contributory status are regularized.
We remind that the deadline for making the special payment on account related to 2017 (or the respective first installment), for taxable persons whose taxation period coincides with the civil year, ends tomorrow March 31.


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