Government measures in key jurisdictions 4th edition - Flipbook - Page 105
Portugal
Tax
Has any new
legislation been
introduced in light of
Covid-19?
Postponement of CIT/PIT and Stamp Tax payments and obligations: the following deadlines
have been extended.
•
•
•
Extension of the first CIT special payment on account from 31 March 2020 to 30 June 2020.
Deadline to submit the Corporate Income Tax return (Modelo 22) was extended from 31 May
2020 to 31 July 2020.
Extension of the first CIT payment on account and additional payment on account from 31 July
2020 to 31 August 2020.
•
Deadline to submit the IES statement from 15 July 2020 to 7 August 2020.
•
Deadline to deliver to the tax authorities the tax file (when mandatory) from 15
July 2020 to 31 August 2020 (with no penalties).
•
Extension of the deadlines to deliver CIT and PIT withholding taxes and Stamp Tax from April
and May from 20 May 2020 to 25 May 2020 and from 20 June 2020 to 25 June 2020, respectively.
Tax deferrals: payment of VAT and CIT/PIT withholding taxes due in the 2nd trimester of 2020 may,
under certain circumstances, be deferred and paid in 3 or 6 monthly instalments, free of interest and
without the need of providing guarantees. The first 1/3 or 1/6 has to be paid on the corresponding
legal deadline.
VAT measures:
•
Extension of the deadlines to submit the VAT periodic return (with no penalties) of
February (from 10 April to 17 April), of March (from 10 May to 18 May), of April (from 10
June to 18 June), of May (from 10 July to 17 July) and June (from 10 August to 17 August). The
corresponding VAT can be payed until 20 April, 25 May, 25 June, 25 July and 25
August, respectively. Extension of the deadline to submit the 1st quarterly VAT return
from 15 May to 22 May and the 2nd quarterly VAT return from 15 August to 22 August and the
corresponding VAT can be paid until 25 May and 25 August, respectively. This measure does not
preclude the request to pay in instalments of the VAT due between April and June.
•
Simplification procedures for filing of VAT periodic returns of February, March and referring to
the 1st trimester of 2020 with no supporting documentation as long as substitutive returns are
afterwards presented by 20 December 2020. This measure is only applicable to taxpayers with a
turnover lower than €10M in 2019 or whose activity was opened in 2020.
•
Application of reduced VAT rate (6% in Mainland Portugal, 5% in Azores and 4% in Madeira) to
protective masks and disinfectant gel and VAT exemption on health equipment furnished to
hospitals and non-profit health organizations.
•
Exceptional recognition of PDF invoices as “electronic invoices” in April, May and June for every
legal effect.
Social Security deferrals: possibility of, under certain circumstances, reducing to 1/3 the Social
Security contributions due between March/April and May/June 2020 for companies and self-employed
(the remaining 2/3 should be payable under the same instalment deferral rules set out above, i.e.
payable between July and September 2020 or between July and December 2020, depending whether
payable in 3 or 6 monthly instalments (free of interest and guarantees)).
Temporary exemption from Social Security contributions: exemption which is, under
certain circumstances, automatically applicable to entities benefiting from the exceptional and
temporary measures set for labor protection in the context of the Covid-19 outbreak.
For more information please visit: Covid-19: Main legislative or regulatory initiatives that have been
taken in Portugal, and Tax Measures in Portugal in response to Covid-19
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Government measures in key jurisdictions