Fiscal

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  • Deadline for submitting the annual CIT return (Modelo 22 form) extended to 15th July

    The outgoing Secretary of State for Tax Affairs issued, on the 14th, the Dispatch no. 176/2024 - XXIII extending the deadline for submitting the 2023 CIT return (Modelo 22) from 31 May to 15 July 2024.

  • Portugal: PTA has decided that Advance Pricing Agreements are the suitable mechanism to determine the transfer pricing method and the arm's lengh pricing, under intragroup service agreements

    The Portuguese Tax Authorities (PTA) decided, in the context of a Binding Information Request (PIV) –Case no. 22442–, that this is not the appropriated approach for determining the transfer pricing method nor the arm’s length pricing between related parties under an intragroup service agreement. Instead, PTA considered that entering into an Advance Pricing Agreement (APA) is the suitable mechanism for these cases.

  • Portugal: Municipal surtax rates applicable to 2023 taxable income

    The Portuguese Tax Authority disclosed already the municipal surcharge rates to be applied in 2023 fiscal year by Corporate Income Tax taxpayers.

  • Portugal: The average construction value per square meter is maintained for 2024

    This value of 532 euros applies to all urban properties whose Model 1 forms are delivered since 1 January 2024.

  • Portugal: Approval of the urban pressure coefficient regarding the extraordinary contribution on local accommodation

    It was approved the urban pressure coefficient for the purpose of the assessment of the extraordinary contribution on local accommodation.

  • Portugal: Deadlines for communication of inventories, SAF-T accounting and use of invoices issued in PDF have again been extended

    The State Budget for 2024 introduces a new flexibility of the tax calendar with regard to the fulfilment of certain tax obligations.

  • Portugal: Amendment to the scope of the reduced VAT rate applicable to refurbishment works

    Following the publication of the “More Housing Program”, which contains a set of tax measures, the Tax Authority clarifies the scope of the reduced VAT rate for renovation works after said law change. 

  • Portugal: Extension until 31 December 2023 of the VAT exemption applicable to certain food products

    The VAT exemption exceptionally applicable to certain food products, previously approved by Law no. 17/2023, of 14 April,  was extended from 31 October to 31 December 2023 by Law no. 60-A/2023, of 31 October.

  • Portugal: Currency devaluation coefficients for 2023 updated

    The new currency devaluation coefficients were published to be applied to goods and rights transferred during 2023.

  • Teleworking in Portugal: limits regarding the tax exemption and exclusion of social security contributions of the compensation amount due to the employees

    The Ordinance no.  292-A/2023 foresees the exemption limits for tax purposes and exclusion from social security contributions regarding the compensation due to the additional expenses that the employees who carry their activities under a telework regime incur in.