News from Portugal related to Corporate Income Tax (Imposto sobre o Rendimento das Pessoas Coletivas – known as IRC). On 9 November, Dispatch No. 10911/2021 was published in the Diário da República announcing the new structure of the tax return Form 22.
The tax return 22 is an annual form in which the taxpayer declares the income related to the CIT and determines the amount to be paid or received by corporation taxpayers. It is submitted electronically through the Tax Authorities website.
With these new instructions, the Portuguese government and the Finance Minister seek to adapt the IRC requirements to the updates that took place during the year.
Form 22 must be submitted by:
All resident entities, whether or not they mainly carry out a commercial, industrial or agricultural activity.
All non-resident entities with permanent establishment in the country.
All non-resident entities that do not have their seat or place of effective management in Portuguese territory.
Entities which do not have an effective seat or address in Portuguese territory and obtain in Portuguese territory income not attributable to a permanent establishment situated therein, provided that no definitive withholding tax applies.
Details on these changes and changes to the form can be found here.
For any questions or more information about the submission of Form 22, our team of experts from Portugal is at your disposal.
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