In the week in which Portuguese taxpayers can start declaring their IRS, the RCA consultant highlights ten tax changes for the year 2019.
The highlight is that the emigrants will have incentives to return to Portugal.
"The introduction of a tax regime that aims to encourage the return of emigrants to Portugal is one of several changes planned for 2019 and aims to encourage the return of Portuguese citizens, who currently live outside the country," recalls a statement from the consultancy.
The tax regime applicable to ex-residents is one of the ten news that RCA highlights in relation to the State Budget for this year.
The consultant stresses the "introduction of a tax regime that aims to encourage the return of emigrants to Portugal, which consists in the exclusion of 50% taxation of income from work or business and professional income that they reap after returning to Portugal."
"Emigrants who return to Portugal in 2019 or 2020, becoming tax residents from that moment on, and who fulfill certain conditions, have access to this regime," explains RCA.
Regarding the Corporate Income Tax (IRC), attention is paid to the Special Pay per Account (PEC): "Taxpayers who do not pay are exempt from the PEC until the end of the 3rd month of the respective tax period. taxation".
"This waiver is valid for each tax period and depends on timely compliance with the delivery obligations of the model 22 and IES declarations of the two previous taxation periods," warns RCA.
With regard to impairment losses on doubtful accounts, the consultant notes that "impairment losses on delinquent loans between companies directly or indirectly held by more than 10% of the share capital are not accepted for tax purposes. same natural or legal person ".
"Such exclusion shall not apply in cases where the debtor has enforcement, insolvency or revocation procedures or extrajudicial procedures for recovery of undertakings under SIREVE and in cases where claims have been claimed in court or arbitration court, "said the consultants.
Regarding intangible assets, "the acquisition cost of intangible assets acquired from related entities, as defined under the transfer pricing regime, is no longer accepted for tax purposes in equal shares during the first 20 fiscal years ".
With regard to personal income tax (IRS), in partuparicular on real estate surplus, residents residing in countries with a more favorable tax regime are automatically taxed at the rate of 35% of real estate gains earned by entities residents without a permanent establishment in Portuguese territory who are domiciled in a country, territory or region with a clearly more favorable tax regime. "
On income from work or from services rendered by non-residents, "non-tax withholding tax on income from work or services rendered by non-residents is not subject to a single monthly payment does not exceed the minimum monthly guaranteed payment ".
As regards stamp duty, RCA warns that, under the consumer credit chapter, "the rule imposing a 50% increase in stamp duty rates on consumer credit is extended until December 31, 2019". "This extension is accompanied by the increase in base rates".
In the field of tax benefits, in the investment support tax regime, "the eligible investment ceiling that is to be applied by the 25% rate goes from 10 million euros to 15 million euros, with the rate of 10% for investments above the new limit ".
As regards the deduction of retained and reinvested profits, the maximum amount is increased to EUR 10 million, whereas in 2018 the maximum amount was EUR 7.5 million.
Lastly, with regard to the system of tax incentives for R & D (Business Research & Development), RCA warns that "the deadline for submitting applications to SIFIDE is from May of the following year to the fifth month of the year following to which the expenditure relates. "
RCA is an audit firm (ROC) and consulting firm in Lisbon, Porto, Luanda and Cidade da Praia, created in 2008 and currently developing projects in Mozambique and Kenya.
The consultancy is an affiliated firm of Praxity, an international alliance of independent auditing and consulting firms operating in more than 100 countries, with 700 offices and 50,000 technicians, and a sales volume of $ 5.5 billion.