Tax Guide 2024 – Tax Penalties
ᐅ Last reviewed 20 January 2024
Tax penalties
Situation |
Tax penalty (1) |
|---|---|
Failure to file the statement of commencement, changes or cease of activity (Corporate Income Tax, VAT) |
€ 600 to € 7,500 |
Failure or delay in filing statements related with the special regime of group taxation (“RETGS - Regime Especial de Tributação de Grupos de Sociedades”) |
€ 1.000 |
Failure or delay in the filing tax returns which aim at assessing the taxable amount (e.g. CIT and VAT tax returns) |
€ 300 to € 3,750 |
Failure, delay, omissions and inaccuracies in the filling of the statement related to the transfer of funds to countries, territories or regions with a more favorable tax regime |
€ 6,000 to € 165,000 |
Failure or delay in filling or omissions and inaccuracies in the statement concerning the payment flows by credit or debit cards or other means of electronic payments |
€ 6,000 to € 165,000 |
Failure, delay omissions and inaccuracies in filing the statement concerning the amount of payments made through credit and debit cards and other means of electronic payments |
€ 6,000 to € 165,000 |
Failure or delay in the payment of the tax due (e.g. VAT, withholding taxes, payments on account, additional payments on account, special payment on account, stamp tax, property transfer tax, etc) (2) (3) |
30% to 100% of the tax due |
Lack of presentation of the transfer pricing documentation within the deadline established by the tax authorities |
€ 1,000 to € 10,000, plus 5% per each day of delay |
Failure to file, within the deadline established by the tax authorities, of the financial and tax reporting statement per country (Country by Country Report) in respect of the entities part of a multinational group, as well as the communication identifying the declaring entity |
€ 1,000 to € 10,000, plus 5% per each day of delay |
Late issuance (after the legal deadline) of certificates of residence (EU Directives and Conventions for the elimination of Double Taxation) |
€ 750 to € 3,750 |
Omissions or inaccuracies in documents that are relevant for tax purposes in case tax is due (eg. filing of replacement returns) (2) |
€ 750 to € 22,500 |
Omissions or inaccuracies in documents that are relevant for tax purposes in case no tax is due (eg. filing of replacement returns) |
€ 187.5 to € 5,625 |
Omissions or inaccuracies in respect of acts, facts or documents which are relevant for the analysis of urgent binding ruling requests |
€ 750 to € 22,500 |
Omissions or inaccuracies regarding acts, facts or documents which are relevant for the analysis of non-urgent binding ruling requests |
€ 187.5 to € 5,625 |
Inexistence of software to extract files (Standard Audit File for tax purposes – Portuguese version / SAF-T PT) |
€ 450 to € 22,500 |
Preparation of a data export standard file without observing the data model structure established in the law |
€ 500 to € 5,000 |
Failure to use certified invoicing software |
€ 3,000 to € 18,750 |
Failure to prepare accounts in accordance with the Portuguese accounting standards (“SNC – Sistema de Normalização Contabilística”) |
€ 1,000 to € 10,000 |
Delay in the preparation of accounting or books records, or in the preparation of other accounting data or records |
€ 500 to € 5,000 |
Failure or delay in the issuance invoices or receipts |
€ 300 to € 3,750 |
Failure to request the issuance of invoices or receipts |
€ 150 to € 2,000 |
Failure to keep invoices and receipts during the legal archive period invoices and receipts |
€ 150 to € 2,000 |
Failure or delay in communicating data of invoices or of inventories |
€ 400 to € 10,000 |
Failure to hold a bank account when mandatory |
€ 540 to € 27,000 |
Failure to perform operations through a bank account |
€ 360 to € 4,500 |
Payments made in cash above the legal limits |
€ 360 to € 4.500 |
Lack of appointment of a tax representative appointment as well as appointment that omits the explicit acceptance of the tax representative |
€ 150 to € 7,500 |
Lack of identification of the manager of assets and rights by the tax representative of a non-resident |
€ 150 to € 3,750 |
(1) The tax penalties mentioned above apply to entities and carry an assumption of negligence. In case of negligence, the amount of the tax penalty cannot be lower than € 50 (or € 25, in case a reduction applies), or higher than € 45,000, unless the relevant tax law states differently. The amounts mentioned above shall differ in case of intention or tax penalties applicable to natural persons. A reduction of penalties is available under certain conditions.
(2) Late assessment interest is due, at the annual rate of 4%, in case of delay in the assessment of the tax due. Late assessment interest is computed daily, as follows: (amount of tax due * interest rate x number of days outstanding) ÷ 365.
(3) Compensatory interest is due in case of delay in the payment of the tax assessed, at the annual rate of 8.876%.
© 2024 PwC. This communication is of an informative nature and intended for general purposes only. It does not address any particular person or entity nor does it relate to any specific situation or circumstance. PricewaterhouseCoopers Tax Services TLS, Lda. We will not accept any responsibility arising from reliance on information hereby transmitted, which is not intended to be a substitute for specific professional business advice.
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