Corporate Tax Rates 2020 includes information on statutory national and local corporate income tax rates applicable to companies and branches, as well as any applicable branch tax imposed in addition to the corporate income tax (e.g., branch profits tax or branch remittance tax). Portugal Corporate Income Tax Rates (IRC - Imposto sobre o Rendimento das Pessoas Colectivas) Taxable profit up to EUR 12,500.00 is taxed at a reduced rate of 12.5% and the excess is taxed at 25% in Portugal. Partial tax exemption and tax … However, businesses pay corporate tax in Portugal at a flat rate of 21% of their taxable profits. There is also no inheritance tax, gift tax or wealth tax in Portugal for non-habitual residents. Using something called a tax shield, taxes impact the WACC calculation because some businesses are able to get their tax rates down to less than 18%. This means UK expats already benefiting from the status will keep in full their current benefits until the end of the 10-year period; Other periodic reporting obligations include VAT returns and withheld income tax and social security contributions. Non-documented expenses, at 50% (or at 70% in the case of a corporation tax exempt entity), Expenses in connection with non-electric passenger vehicles at 10% (if the price is under €25,000) to 35% (if the price is equal to or exceeds €35,000), Payments made to residents of blacklisted jurisdictions at 35% (if an individual beneficiary) or 55% (if a corporate beneficiary), Travel allowances and similar expenses at 5%, Dividends distributed to a holding entity that is exempt from corporation tax (even if only partially) and has had the shareholding for less than one year, at 25%. Residents in Portugal are taxed on their worldwide income at progressive rates varying from 0% to 48%, for 2016. offshore companies, is subject to property tax at a fixed rate of 2 per cent. Companies will be granted a 20% Corporate Income Tax Rebate capped at $10,000. Enter Your Salary and the Portugal Salary Calculator will automatically produce a salary after tax illustration for you, simple. Details of Tax Revenue - Slovak Republic. A non-resident business is deemed to have a permanent establishment in Portugal if it has a fixed place of business in the country (a branch, an office or a construction site) or acts through a resident dependent agent. Since 2018, small and medium-sized businesses are subject to a reduced rate of 20 percent on the first €100,000 (US $118,000) in taxable profits. Yet, Brochner et al., 2007, suggest that even if one would have a precise idea of the net winner and losers of corporate tax rate harmonisation, the impact on GDP and on tax Residents in Portugal for tax purposes are taxed on their worldwide income at progressive rates varying from 14.5% to 48% for 2020. Capital gains tax. General Manager and Executive Manager of Companies, Directors of Administrative and Commercial Services, Production and Specialty Services Directors, Hotel, restaurant, trade and other service directors, Experts in the physical sciences, mathematics, engineering and related techniques, University and Higher Education Professors, Information and Communication Technology (ICT) Experts, Intermediate science and engineering technicians and professions, Information and Communication Technology Technicians, Market-oriented farmers and skilled agricultural and livestock workers, Skilled, market-oriented forest, fishing and hunting workers. 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