Other tax matters

Stamp Tax

Donations and inheritances

The transfer by means of donations or inheritances of participation units in investment funds and/or shares in investment companies will be subject to Stamp Tax.

Subjective exemptions

Subjective exemptions foreseen in the Stamp Tax Code for the State, public institutes, social security institutes, collective bodies with public utility statutes, private institutes of social welfare and other entities with a similar legal status are not applicable if such entities are credit institutes, financial companies, insurance and reinsurance companies and other entities with similar legal status. A similar provision was introduced in the Tax Benefits Code that foresees a Stamp Tax exemption for cooperatives.

Objective exemptions

The Stamp Tax Code now includes three exemptions applicable to exportation transactions, including: (i) insurance policies; (ii) banking guarantees; and (iii) guarantees provided by the State, directly or indirectly, under international agreements/law. 

It is worth noting that the exemptions (i) and (ii) above were already foreseen in Decree-law no. 109/2020, 31 December, in force as from 1 January 2021, but with a limited application up to 31 December 2022. Thus, those exemptions start applying with an unlimited term.  

Exemptions applicable to intra-group financing

With the aim of aligning the domestic law with the European Union’s law, it is expressly foreseen that the exemptions applicable to short term intra-group financing also apply when the debtor is located in another European Union Member State and/or in a country with which there is a Tax Treaty in force.  

Moratorium on credit operations

Following the Stamp Tax’s exemption introduced by Law no. 70/2021, of 4 November, applicable to the restructuring and refinancing of credits covered by the moratorium regime established by Decree-Law no. 10-J/2020, of 26 March, it is clarified the respective term: (i) 31 December 2022 in what concerns credits with installments; or (ii) 31 March 2023 regarding credits fully reimbursed at the term.

Consumers credit

The 50% increase in Stamp Tax applicable to consumers credit is extended until 31 December 2022. The safeguard clause that excludes existing agreements from the above provision will remain applicable.

Tax compliance

Deadline to file VAT returns and payment of VAT

VAT returns can be filed until the 20th of the second month, following the month or quarter to which the transactions concern depending on the applicable VAT regime (in the case of monthly or quarterly).

The VAT assessed can be paid until the 25th of the second month, following the month or quarter to which the transactions concern, depending on the applicable VAT regime (monthly or quarterly).

Communication of invoices– SAF-T (PT)

Individuals and entities subject to the Portuguese invoice requirements foreseen in Article 35-A of the VAT Code, carrying out VAT taxable transactions, are required to communicate the invoice data to the tax authority until the 5th of the month following the month of issuance.

If no documents were issued during the month, this fact must be communicated to the tax authority, through its portal, within the same deadline.

These amendments apply from 1 January 2023 onward.

Communication of rents

Transitional regime for IMI

The annual communication of rents by owners, usufructuaries or holders of surface rights of the rented urban properties shall be made from the 1st of January until the 15th of February of the following year (formerly from the 1st of November until the 15th of December).