Corporation Tax (“IRC”)

Non-residents companies - offshore companies

Offshore black-listed jurisdiction (“Tax havens”)

In 2003 the Portuguese government enacted several laws to penalize companies based in more favorable tax jurisdictions "tax havens''. To discourage tax evasion and in 2004 they produced a list of 83 countries deemed to be tax heaven (click here to see “list of tax havens”)

Below you will find some examples of these penalties:

  • Council tax "IMI" is 5% of the property rateable value whereas the rates for personal property vary from 0,2% to 0,5% (for property valued after 2003) and from 0,4% to 0,8% in all other cases.
  • Property transfer tax "IMT" is 8%, whereas the personal rate increases to a maximum of 6,5%.
  • These companies are liable to a corporation tax "IRC" rate of 15% on a presumed rental income of 1/15th of the property rateable value.

However, all the jurisdictions not listed on the black list are liable to normal rates so, there are still some m ore favorable tax jurisdictions available in which to base your company, such as, Delaware, Oklahoma or Malta.

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