The first two months of 2015 have passed. It’s the moment to take the opportunity to recall or be aware of some relevant situations to bear mind on the next few days of business in Portugal:

1. VAT rates throughout the European Union (28 Member States)

The European Commission has published a list of the various Value-Added Tax (VAT) rates applicable as per 1st January 2015 in the different Member States of European Union (available here).

We highlight some of the generic rates:

2. 2014’s year-end Accounts Presentation:

According to the Portuguese Companies Trade Code, companies should conclude the approval of the management report, financial statements and other related documents regarding 2014 (year ended on 31st December 2014) until the end of March 2015.

In case of companies which prepare consolidated accounts or apply equity method in its shareholding investments, the deadline is until 31st May 2015.

3. Regular reports to the Bank of Portugal of foreign cashflows:

Companies with foreign cashflows (incoming or outcoming) need to report the relevant information to the Bank of Portugal if during the previous year it had any cashflow (in or out) or any balance of at least EUR 100,000.

If this is the case of your company for 2014, monthly reports to the Bank of Portugal are now due until 15 working days of the following month the one it relates to.