Starting a Business in PortugalTax Returns

Starting a Business in Portugal

Autonomos (sole-traders) in Portugal must make quarterly and annual income tax and VAT (known as IVA in Portugal) returns. This will require the maintenance of records of all bills and invoices, with VAT receipts and payments noted separately.

An accountant will then use this information to fill-in the relevant tax and VAT forms before submitting them to the local offices of Hacienda (tax office).

As well as the quarterly income tax and VAT returns, an annual return must be made in respect of both – in the case of VAT at the beginning of the year, before January 31st and in the case of income tax, at the end of June.

For those who are self-employed (as opposed to those who own limited companies) this is the same as the annual personal income tax return that most individuals in Portugal must make. If your personal financial circumstances are complex e.g. multiple properties, stocks, shares and other investments then your accountant may charge additionally for assisting you with this annual tax return.

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