PORTFOLIO

Business Operations in Portugal (977)

Tax Management Portfolio, Business Operations in Portugal, contains information to enable U.S. and other foreign investors to understand the commercial and tax law likely to be of concern to them when conducting their operations in Portugal.

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DESCRIPTION

The Portfolio analyzes in detail the statutory and procedural framework of foreign investments in Portugal, as well as the general aspects of corporate law that may help a foreign investor to choose the best investment structure.

The Portfolio also provides a detailed analysis of the Portuguese income tax as it applies to individuals, corporations, and partnership-like entities. It also discusses the value added tax, stamp tax, real property transfer tax, real property tax, social security contributions and other taxes on transactions and services as well as local and regional taxes.

In addition to the discussion of Portugal's tax treaties contained in the Detailed Analysis, a comparative table of the withholding rates provided for in the tax treaties is contained in the Worksheets, as is the text of the Portugal-United States tax treaty.


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AUTHORS

Business Operations in Portugal was authored by the following experts.
FILIPE ROMÃO
Filipe Romão, admitted to Portuguese Bar; education: University of Lisbon (Law Degree, 1995); Catholic University of Portugal, Porto (Post-Graduation in Management, 1997); Instituto Superior de Gestão, Lisbon (Post-Graduation in Tax Law, 1999).

MIGUEL DURHAM AGRELLOS
Miguel Durham Agrellos, admitted to Portuguese Bar; education: Catholic University of Portugal, Porto (Law Degree, 1998); Catholic University of Portugal, Porto (Post-Graduation in Management, 1999); Instituto Superior de Gestão, Lisbon (Post-Graduation in Tax Law, 2003).

MARTA PONTES
Marta Pontes, admitted to Portuguese Bar (2003); education: University of Lisbon (Law Degree, 2001); Instituto Superior de Gestão, Lisbon (Post-Graduation in Tax Law, 2003).

ANTÓNIO CASTRO CALDAS
António Castro Caldas, admitted to Portuguese Bar (2002); education: Catholic University of Lisbon, Portugal (Law Degree, 2000); Instituto Superior de Gestão, Lisbon (Post-Graduation in Tax Law, 2003).

CLÁUDIA REIS DUARTE
Cláudia Reis Duarte, admitted to the Portuguese Bar (2005); education: Universidade Nova de Lisboa (Law Degree, 2003); Instituto Superior de Ciências do Trabalho e da Empresa — ISCTE (Postgraduate degree in Taxation, 2004).

TIAGO PEDRO RODRIGUES
Tiago Pedro Rodrigues, admitted to Portuguese Bar (2005); education: University of Lisbon (Law Degree, 2003); Instituto Superior de Gestão, Lisbon (Post-Graduation in Tax Law, 2005); Queen Mary University of London (LL.M. in Tax Law, 2008); Chartered Institute of Taxation (Advanced Diploma in International Taxation, 2008).

ANDRÉ PESTANA NASCIMENTO
André Pestana Nascimento, admitted to the Portuguese Bar (2005); education: University of Lisbon (Law Degree, 2003); University of Lisbon (Post-Graduation in Employment and Social Security Law, 2006): Immigration; Labor Relations.

JOANA TORRES EREIO
Joana Torres Ereio, admitted to Portuguese Bar (2010); education: University of Coimbra (Law Degree, 2007): Catholic University of Lisbon (Postgraduate degree in Commercial Law, 2011); University of Lisbon (Intensive Course on Corporate Finance, 2012).

FRANCISCO CUNHA FERREIRA
Francisco Cunha Ferreira, admitted to Portuguese Bar (2008); education: University of Lisbon (Law Degree, 2005): Forms of Doing Business in Portugal.

TABLE OF CONTENTS

 

I. Portugal — An Overview

 A. Portugal — The Country, Its People and Economy

 1. The Country

 2. Political Organization

 3. The Economy

 B. Sources of Law

 1. Statutes

 2. Court System

 3. Arbitration

 II. Operating a Business in Portugal

 A. Foreign Investment in Portugal

 1. Opportunities

 2. Incentives

 a. Financial Incentives

 b. Investment Support Programs

 3. Restrictions and Licenses

 B. Currency and Exchange Controls

 1. Currency

 2. Exchange Controls

 C. Trade and Commerce Regulation

 1. Imports and Exports (Custom Duties)

 a. General

 b. Customs Representative and Authorized Economic Operator

 c. Customs Declarations

 d. Customs Procedure and Value of Goods

 e. Customs Duties

 (1) Import Duties

 (2) Export Duties

 f. Customs Authorities and Customs Controls

 g. Anti-Dumping Duties

 2. General Regulation of Business

 a. Competition Provisions

 b. Merger Control

 c. Antitrust

 (1) Restrictive Practices

 (2) Abuse of a Dominant Position

 (3) Abuse of Economic Dependency

 (4) Competition Registry and Sanctions

 d. Price Control

 e. Leniency Program

 f. Unfair Competition

 g. Securities Regulation

 (1) Overview

 (2) Agents in Portuguese Securities Markets

 (3) Dynamics of the Portuguese Securities Markets

 (a) Trading of Securities: Regulated Markets, Multilateral Trading Facilities and Systematic Internalization

 (b) Information Duties and Disclosure Obligations

 (c) Qualified Shareholdings and Attribution of Voting Rights

 (d) Public Offerings of Securities and the Obligation to Publish a Prospectus

 (e) Admission to Trading on Securities Markets

 (f) Mandatory Takeover Bids

 3. Intellectual and Industrial Property in Portugal

 a. Intellectual Property

 b. Industrial Property

 c. Inventions

 (1) Patents

 (2) Utility Models

 (3) Topographies of Semiconductor Products

 d. Designs or Models

 e. Trademarks

 f. Rewards

 g. Logos

 h. Designations of Origin or Geographical Indications

 i. Trade Secrets

 D. Immigration Regulations and Employment of Aliens

 1. European Union Citizens

 a. General

 b. Residence Rights

 (1) Right of Residence for up to Three Months

 (2) Right of Residence for More than Three Months

 (3) Permanent Residence Right

 c. Misdemeanors

 2. Non-European Union Citizens

 a. General

 b. Visas

 (1) General

 (2) General Application Procedures

 (3) Airport or Seaport Transit Visas, Transit Visas and Short Term Visas

 (4) Temporary Visit Visas

 (a) Temporary Visit Visas in the Context of Employee Transfers

 (b) Temporary Visit Visas for the Exercise of a Temporary Professional Activity as an Employee

 (5) Residence Visa

 (a) Residence Visas for Carrying on a Professional Activity as an Employee

 (b) Residence Visas for Carrying on a Professional Activity as an Independent Contractor or for Investing Immigrants

 (6) Visit Extensions

 c. Residence Permits

 (1) Temporary Residence Permits

 (2) Permanent Residence Permits

 d. Status of Long-Term Residents

 e. Criminal Offenses and Misdemeanors

 f. Specific Legal Regimes

 g. Labor Law

 E. Labor Relations

 1. General

 2. Legal Framework

 3. Employment Contracts

 a. Definition

 b. Types of Employment Contract

 (1) Term Employment Agreements

 (2) Open-ended Employment Contracts

 (3) Service Commission Contracts

 4. General Labor Conditions

 a. Trial Period

 b. Insurance Policies

 c. Minimum National Wage

 d. Working Hours and Overtime

 e. Adaptability Framework

 f. Bank of Hours

 g. Concentrated Working Schedule

 h. Annual Leave (Vacation) and Public Holidays

 i. Professional Training

 j. Termination by the Employee

 5. Termination of Employment Contracts

 a. General

 b. Redundancy Procedures

 c. Termination by Mutual Agreement

 d. Unlawful Dismissal

 6. Collective Representation and Organizational Rights

 7. Social Security System

 a. Applicable Rates

 b. Illness Allowance

 c. Retirement

 F. Financing the Business

 1. Shareholder Financing

 a. Share Capital Increase

 b. Shareholders' Loans

 c. Supplementary Capital Contributions (Prestações Suplementares)

 d. Additional Capital Contributions (Prestações Acessórias)

 2. External Financing

 a. Bonds

 b. Banking Activity in Portugal and Loans

 III. Forms of Doing Business in Portugal

 A. Principal Business Entities

 1. Public Limited Corporation (Sociedade Anónima)

 2. Limited Liability Corporation by Quotas (Sociedade por Quotas)

 3. Societas Europaea (Sociedade Anónima Europeia)

 4. Partnership-like Entities

 5. Branch of a Foreign Corporation

 6. Other Business Entities

 B. Public Limited Corporations (Sociedades Anónimas)

 1. Incorporation

 a. General

 b. Shareholders

 c. Capital and Shares

 d. Incorporation Procedures

 2. Operation

 a. General

 b. Amendment of Bylaws

 c. Share Capital Increases and Reductions

 d. Acquisition of Treasury Shares and Financial Assistance

 e. Bonds

 f. Management

 g. Shareholder Resolutions

 3. Mergers and Divisions

 4. Dissolution and Liquidation

 C. Limited Liability Corporation (Sociedade por Quotas)

 1. Incorporation

 a. General

 b. Quota-holders

 c. Capital

 d. Incorporation Procedures

 2. Operation

 a. General

 b. Amendment of Bylaws

 c. Increases and Reductions of Capital

 d. Acquisition of Treasury Quotas (Quotas Próprias) and Financial Assistance

 e. Management

 f. Quota-holders' Resolutions

 3. Mergers and Divisions

 4. Dissolution and Liquidation

 5. Sole Shareholder Limited Liability Corporations by Quotas (Sociedade Unipessoal por Quotas)

 6. Empresa na Hora

 a. Overview

 b. Incorporation Procedure

 7. Empresa On-line

 a. Overview

 b. Incorporation Procedure

 D. Societas Europaea

 1. Incorporation

 2. Corporate Name

 3. Capital

 4. Registered Office

 5. Structure

 6. Subsidiary Regulation

 E. Partnership-like Entities

 1. Unlimited Liability Corporations (Sociedades em Nome Colectivo)

 2. Mixed Liability Corporations (Sociedades em Comandita)

 F. Branch of a Foreign Corporation

 1. Registration

 2. Other Mandatory Procedures

 G. Other Business Entities

 1. Civil Corporations

 2. Cooperatives

 3. Joint Ventures

 4. Corporation Groups

 5. European Economic Interest Groupings

 IV. Main Taxes

 A. Personal Income Tax

 B. Corporate Income Tax

 C. Value Added Tax

 D. Stamp Tax

 E. Real Property Transfer Tax

 F. Real Property Tax

 G. Social Security Contributions

 H. Other Taxes

 1. Special Contribution

 2. Excise Duties

 V. Taxation of Domestic Corporations

 A. What Is a Domestic Corporation?

 B. Corporate Income Tax

 1. Taxation of Worldwide Income

 2. Accounting

 a. General

 b. Financial and Tax Year

 c. Accounting Methods

 d. Valuation Rules

 (1) Fixed Assets

 (2) Investment Property

 (3) Inventories

 (4) Financial Instruments

 3. Tax Transparency

 4. Calculation of Gross Income

 a. Capital Gains

 (1) General

 (2) Computation

 (3) Reinvestment Benefit

 b. Dividends

 (1) General

 (2) Withholding

 c. Income from Derivatives

 d. Foreign Source Income

 5. Business Expenses and Other Allowable Deductions

 a. General

 b. Organizational Expenses (Despesas de Instalação)

 c. Travel and Entertainment Expenses

 d. Interest

 e. Rents

 f. Capital Losses

 (1) Capital Losses from the Transfer of Shares

 (2) Other Capital Losses

 g. Depreciation and Amortization

 (1) General

 (2) Basis, Methods and Rates of Depreciation

 h. Charitable and Other Contributions

 i. Impairment Losses and Reserve Accounts

 (1) Impairment Losses

 (2) Reserve Accounts

 j. Unrecoverable Debts

 k. Inventory Write-downs

 l. Labor-Related Expenses

 m. Business Associations — Membership Fees

 n. Nondeductible Expenses

 6. Capital Expenditure

 7. Carryforward and Carryback Losses

 a. General

 b. Anti-Loss Trafficking Rules

 c. Transfer of Losses on a Corporate Reorganization

 8. Tax Credits

 a. Foreign Tax Credit

 b. Research and Development Tax Credit

 c. Contractual Tax Incentives for Investment

 9. Tax Consolidation

 a. Requirements

 b. Taxable Profit

 c. Deduction of Tax Losses

 d. Termination of the Regime

 10. Tax Treatment of Reorganizations

 a. Reorganizations Within a Corporation

 b. Tax-free Reorganizations

 (1) General

 (2) Mergers, Divisions and Transfers of Assets

 (3) Exchanges of Shares

 (4) Other Requirements

 (5) Anti-Abuse Provision

 c. Transfer of Tax Residence into and out of Portugal

 11. Tax Treatment in the Event of Dissolution and Liquidation

 12. Special Tax Regimes

 a. Pure Holding Companies

 b. Securities Investment Funds (Fundos de Investimento Mobiliário)

 c. Real Estate Investment Funds (Fundos de Investimento Imobiliário)

 d. Pension Funds, Retirement Funds, Education Funds and Retirement/Education Funds

 e. Stock Saving Funds (Fundos de Poupança em Acções)

 f. Venture Capital Corporations and Funds

 g. Madeira and Santa Maria Free Trade Zones

 (1) Corporations Authorized Prior to January 2001

 (2) Corporations Authorized in 2003-13

 13. Tax Benefits

 a. Job Creation Incentives

 b. Tax Benefits for Investment in Certain Inland Areas

 14. Tax Rates and Withholding Requirements

 a. Tax Rates

 b. Withholding Requirements

 15. Assessment and Filing

 a. Tax Returns

 b. Payment of Tax

 VI. Taxation of Nonresident Entities

 A. General

 B. Determination of Taxable Income and Tax Rates

 1. Income Derived in Portugal

 2. Supply of Services in General

 3. Royalties, Know-How, Technical Assistance and Use of, or Right to Use, Equipment

 4. Dividends and Liquidation Proceeds

 5. Interest and Other Investment Income

 6. Real Property Income

 7. Income Arising from Lotteries, Raffles, Totoloto and Betting, as Well as Amounts or Prizes Won in Any Draw or Competition

 8. Capital Gains

 9. Income Attributed to Members of Corporate Bodies

 10. Income Arising from Gratuitous Transfers

 11. Other Income

 12. Tax Benefits and Exemptions

 a. Sea and Air Navigation Activities

 b. Debt Securities

 c. Domestic Clearing of Debt Securities

 d. International Clearing of Debt Securities

 e. Capital Gains Obtained by Nonresident Entities

 f. Investment Funds

 g. Foreign Loans, Swaps and Term Deposits

 h. Free Trade Zones

 C. Tax Payment and Assessment

 1. Withholding

 2. Payments Made to Nonresident Entities

 3. Assessment and Filing

 a. Registration

 b. Income Subject to Final Withholding

 c. Income Not Subject to Final Withholding

 4. Appointment of a Tax Representative in Portugal

 VII. Taxation of Permanent Establishments

 A. General

 B. What Is a Permanent Establishment?

 C. Determination of Taxable Income and Method of Taxation

 1. Attribution of Profits to a Permanent Establishment

 2. Determination of Taxable Income and Rates

 D. Branch Distribution Tax

 E. Subsidiary versus Branch

 VIII. Taxation of Partnerships and Other Business Entities

 IX. Taxation of Resident Individuals

 Introductory Material

 A. Scope of Taxation

 1. Effective Scope — Worldwide Income

 2. Personal Scope

 B. Tax Year and Allocation of Income

 C. Residence

 1. Concept of Residence

 2. Residence in an Autonomous Region

 3. Citizens of a European Union Member State

 D. Determination of Taxable Income

 1. Gross Income of Each Income Category

 2. Determination of Net Income of Each Category

 a. Employment Income (Category A)

 (1) General

 (2) Types of Employment Income

 (3) Computation of Net Income

 (4) Withholding Tax and Final Rates

 b. Business and Professional Income (Category B)

 (1) Types of Income

 (2) Computation of Net Income

 (3) Withholding Tax and Final Rates

 c. Investment Income (Category E)

 (1) General

 (2) Interest

 (3) Dividends

 (4) Income from Life Insurance Schemes and Pension Funds or Other Complementary Social Security Schemes Qualifying as Simple Life Insurance Policies (Seguros de Vida) or Other Life Insurance Operations (Outras Operações do Ramo Vida)

 (5) Other Investment Income

 (6) Tax Benefits and Special Rules

 (7) Computation of Net Income

 d. Real Property Income (Category F)

 (1) Types of Real Property Income

 (2) Computation of Net Income

 e. Net Worth Increases (Including Capital Gains) (Category G)

 (1) Types of Income

 (2) Capital Gains and Losses

 (3) Computation of Net Income

 (4) Withholding Tax and Final Rates

 f. Pension Income (Category H)

 (1) Types of Pension Income

 (2) Computation of Net Income

 (3) Withholding Tax and Final Rates

 3. Determination of Net Global Income

 a. Income Aggregation (Englobamento)

 b. Offsetting Negative Net Global Income Against Positive Net Global Income (Allowances)

 E. Tax Rates and Gross Tax Payable

 F. Net Tax Payable

 1. General

 2. Deductions from Gross Tax Payable

 3. Foreign Tax Credits

 4. Tax Benefits

 a. Contributions to Pension Funds, Retirement Saving Funds and Retirement Saving Plans

 b. Capitalization Regime

 c. Patronage

 d. Renewable Energy Equipment

 e. Health Insurance

 G. Withholding Tax and Payments on Account

 1. Withholding Tax

 2. Advanced Payments

 H. Assessment and Filing

 1. Annual Personal Income Tax Return

 2. Other Tax Returns

 X. Taxation of Nonresident Individuals

 A. Nonresident Individuals

 1. General

 2. Determination of Taxable Income and Tax Rates

 a. General

 b. Method of Taxation and Tax Rates Applicable to Nonresident Individuals

 3. Tax Benefits and Exemptions

 a. Debt Securities

 b. Capital Gains

 c. Investment Funds

 d. Free Trade Zones

 4. Tax Payment and Assessment

 a. Withholding

 b. Payments Made to Nonresident Entities

 5. Assessment and Filing

 a. Registration

 b. Filing Obligations

 B. Nonhabitual Resident Individuals

 1. Scope of Taxation — Personal Scope

 2. Scope of Taxation — Effective Scope

 a. Income Derived in Portugal

 b. Income Derived Outside Portugal

 c. Income Derived Outside Portugal that Would be Exempt from Taxation in Portugal

 XI. Inheritance and Gift Tax

 XII. Value Added Tax

 A. Introduction and General Features

 B. Taxable Transactions

 C. Supply of Goods

 D. Supply of Services

 E. Intra-European Union Acquisitions of Goods

 F. Importation of Goods

 G. Taxable Persons

 H. Place of Taxable Transactions

 1. Place of Supply of Goods

 2. Place of Supply of Services

 a. General Rules

 b. Exceptions

 (1) Common Exceptions

 (2) Specific Exceptions

 c. Specific Rule

 3. Place of Intra-European Union Acquisition of Goods

 4. Place of Supply of Goods with Respect to Distance Selling

 I. Chargeable Event and Chargeability of Value Added Tax

 1. Supply of Goods and Services

 2. Intra-European Union Acquisition of Goods

 3. Importation

 J. Exemptions

 1. General

 2. Main Exemptions

 a. Exemptions for Domestic Transactions (Limited Exemptions)

 b. Exemptions for Importation of Goods

 c. Exemptions for Exports, Assimilated Transactions and International Transport (Full Exemptions)

 d. Exemptions for Transactions Related to Customs Warehouses, Warehouses Other than Customs Warehouses and Similar Arrangements (Full Exemptions)

 e. Exemptions for Intra-European Union Supplies of Goods (Full Exemptions)

 f. Exemptions for Intra-European Union Acquisitions

 K. Taxable Amount

 L. Rates

 M. Assessment of Value Added Tax

 1. General

 2. Restrictions on the Right to Deduction

 3. Rules Governing the Exercise of the Right of Deduction

 4. Proportional Deduction Rules

 5. Adjustments to Value Added Tax Deducted

 6. Joint and Several Liability for Value Added Tax

 N. Taxable Persons' Main Ancillary Obligations

 O. Special Value Added Tax Schemes

 1. Special Exemption Scheme

 2. Special Scheme for Retail Sales

 3. Special Regime for Resellers of Liquid Fuel

 4. Special Scheme for Travel Agencies

 5. Special Regime for Second-hand Goods, Works of Art, Antiques and Collector's Items

 6. Special Regime for Gold Held for Investment

 XIII. Other Taxes on Transactions and Services and Local Taxes

 A. Real Property Transfer Tax

 B. Stamp Tax

 1. Taxable Events and Tax Rates

 2. Territorial Scope

 3. Chargeability of Stamp Tax

 4. Personal Scope

 a. Taxable Persons

 b. Person Bearing the Tax

 5. Exemptions

 a. Personal Exemptions

 b. Exempt Events

 6. Tax Settlement

 C. Special Contribution

 D. Excise Duties

 1. General

 2. Taxes on Alcohol, Petroleum Products and Tobacco

 3. Tax on Car Vehicles (Imposto sobre Veículos)

 E. Tax on Certain Insurance Premiums

 F. Banking Sector Contribution

 G. Real Property Tax

 H. Road Tax

 I. Other Local Taxes

 XIV. Transfer Pricing

 A. Arm's Length Principle

 B. Special Relations

 1. Direct and Indirect Shareholder Relationship

 2. Entities with Common Shareholders

 3. Corporate Bodies Relationship

 4. Group of Corporations

 5. Tax Haven Residents

 C. Transfer Pricing Methods

 1. Cost Contribution Agreements (or Cost Sharing Agreements)

 2. Intra-group Service Agreements

 D. Tax Information and Documentation

 E. Transfer Pricing Tax File

 F. Advanced Pricing Agreements

 G. Correlative Adjustments

 1. Domestic Transactions

 2. International Transactions

 XV. Anti-abuse Provisions and Special Provisions Relating to Multinational Corporations

 A. Trusts

 B. Anti-abuse Provisions and Tax Havens

 1. General Anti-avoidance Rule

 2. Specific Anti-abuse Provisions Related to Tax Havens

 a. Controlled Foreign Corporations Rules

 (1) Definition of “Portuguese Shareholder”

 (2) Definition of “Controlled Foreign Corporation”

 (3) Exclusions from the Controlled Foreign Corporations Regime

 (4) Income Attributable to Controlling Resident Shareholders

 (5) Formalities

 (6) Compatibility with Tax Treaties and European Union Tax Law

 b. Payments Made by Portuguese Entities to Entities Resident in Tax Havens

 c. Nonapplication of Certain Benefits and Exemptions

 d. Thin Capitalization Rules

 e. Transfer Pricing Rules

 3. Specific Anti-abuse Provisions Concerning Jurisdictions Lacking Exchange of Information Agreements

 4. Disclosure Regime

 5. Tax Amnesty Regime for Undeclared Assets Held Abroad

 XVI. Avoidance of Double Taxation

 Introductory Material

 A. Foreign Tax Relief

 1. Foreign Tax Credit

 2. Parent Subsidiary Distributions

 B. Tax Treaties

 1. General

 2. Taxation of Business Income

 a. Permanent Establishment

 b. Industrial or Commercial Profits

 c. Branch Distribution Tax

 3. Taxation of Investment Income

 a. Dividends

 b. Interest

 c. Royalties

 d. Capital Gains

 e. Application of Tax Treaties

 4. Methods for the Elimination of Double Taxation

 5. Portugal-United States Tax Treaty

 a. Scope of Application

 b. Business Profits and Independent Personal Services

 c. Investment Income

 d. Immovable Property Investments

 e. Capital Gains

 f. Other Income

 g. Limitation on Benefits

 h. Relief from Double Taxation

 6. Estate and Gift Tax and Other Treaties

 XVII. Tax Procedures

 A. Tax Authorities Structure

 B. Tax Procedure — Key Features and Principles

 C. Statute of Limitations

 1. Statute of Limitations on the Assessment of Tax (Caducidade)

 2. Statute of Limitations on the Collection of Tax (Prescrição)

 D. Tax Liability

 1. Primary and Secondary Liability

 2. Liability of Board Members, Directors, Managers or Any Person Who Has Management Powers

 3. Tax Identification Number

 4. Tax Representation

 E. Tax Authorities' Competence

 1. Tax Audits

 2. Rulings

 a. General Rulings (Orientações Genéricas)

 b. Binding Rulings (Informações Vinculativas)

 3. General Anti-avoidance Rules

 a. General Anti-abuse Provision

 b. Simulation Clause

 F. Payment of Tax

 G. Administrative and Judicial Claims

 1. Administrative Claim

 2. Administrative Appeal

 3. Judicial Claim

 4. Tax Arbitration

 H. Tax Enforcement Procedure

 1. Enforcement Procedure

 2. Challenge to Enforcement Procedure

 I. Fines and Penalties

 1. Embezzlement

 2. Tax Fraud


WORKING PAPERS

 Working Papers

 Table of Worksheets

 Worksheet 1 Order 150/2004 of February 13, 2004 (Tax Havens List)

 Worksheet 2 Declaration of Beginning of Activity (Declaração de Início de Actividade)

 Worksheet 3 Annual CIT Return (Declaração Modelo 22)

 Worksheet 4 IES (Declaração Anual de Informação Contabilística e Fiscal)

 Worksheet 5 DJR-1, DJR-2

 Worksheet 6 PIT — Category A and H Withholding Tables

 Worksheet 7 Devaluation Coefficients

 Worksheet 8 PIT Return and Annexes (Modelo 3)

 Worksheet 9 VAT Table

 Worksheet 10 Real Property Transfer Tax Form 1

 Worksheet 11 Stamp Tax Form 1

 Worksheet 12 Property Tax Form 1

 Worksheet 13 Disclosure Regime Communication

 Worksheet 14 Tax Amnesty Form

 Worksheet 15 List of Comprehensive Double Taxation Agreements and Related Protocols Signed by Portugal as of April 1, 2011

 Worksheet 16 Table of Withholding Rates

 Worksheet 17 Forms for the Application of Double Tax Treaties

 Worksheet 18 1994 Portugal-United States Income Tax Treaty

 Bibliography

 OFFICIAL

 UNOFFICIAL

 Internet