Newsletter #8
[27/09/2024]
Dear Clients and Friends,
We hope that returning from the holidays has brought renewed energy to face the challenges of the second half of 2024.
With our usual dedication, it’s time to prepare for the upcoming tax obligations and ensure that everything is in order. We would like to remind you that the deadline for the payment of the 2nd Payment on Account (PPC) for Corporate Income Tax (IRC) is approaching.
According to Article 104 of the Corporate Income Tax Code (CIRC), the payment must be made by September 30, 2024. We recommend organizing in advance to avoid any penalties for non-compliance.
As usual, we have provided a set of relevant topics, the documentation for which can be found in the attachments below for detailed consultation.
Please do not hesitate to contact us if you need any further clarification.
Best regards,
| José António Marques Pereira Partner | Edgar Torrão Partner |
| marques.pereira@marquespereira.pt Tel.: + 351 92 627 4049 | edgar.torrao@marquespereira.pt Tel.: + 351 91 758 40 68 |
#1 - Change in the functionality of "green receipts"
OCC Guide on the changes and functionalities of the new "green receipts."
Creation of new functionalities for electronic invoice-receipts ("green receipts") by the Tax and Customs Authority (AT).
#2 - IRS - Changes to withholding tax tables
Law No. 33/2024, of August 7
Changes introduced by Law No. 33/2024, of August 7, to the general IRS tax rates provided for in Article 68 of the IRS Code, applicable to income earned in 2024.
#3 - Balance Sheet Bonuses - IRS exemption in 2024
Binding Information from the AT, Process No. 26068
IRS exemption for balance sheet bonuses paid to workers in 2024, related to the company’s profit-sharing scheme. The exemption is limited to 5 times the value of the Guaranteed Minimum Monthly Wage (RMMG), provided that workers' fixed salaries increase by at least 5% in 2024.
#4 - Waiver of VAT exemption on internal transactions
Binding Information from the AT, Process No. 26225
Requirement of “habituality” for the waiver of VAT exemption in the real estate sector.
#5 - Accounting Treatment of Non-refundable Grants in the Context of the PRR - NCRF 22
Technical Guidance No. 6 of the Accounting Standardization Commission
The document addresses how to account for non-refundable grants under the PRR framework, in accordance with NCRF 22.