Understanding the fiscal calendar is vital for anyone living or running a business in Portugal. Keeping track of important tax deadlines helps avoid penalties and ensures smooth tax compliance.

Key Tax Deadlines for Individuals

• IRS (Personal Income Tax): The annual IRS tax return period usually opens in early April and closes by the end of June, covering income earned in the previous calendar year.
• Social Security Contributions: Self-employed individuals must make social security payments quarterly, generally due by the 20th of the month following each quarter.

Important Dates for Businesses

• IRC (Corporate Income Tax): Companies typically file their corporate tax returns within five months after the end of the fiscal year, commonly by May 31st for calendar-year companies.
• VAT (IVA) Returns: VAT declarations and payments depend on the company’s turnover and can be monthly or quarterly. Monthly VAT returns are due by the 10th of the following month, while quarterly returns are due by the 15th of the month following the quarter.
• Social Security: Companies are required to submit social security contributions monthly by the 20th day of the following month.

Other Relevant Fiscal Dates

• Withholding Taxes: Payments related to withholding taxes on salaries, rents, and dividends must be declared and paid monthly or quarterly depending on the taxpayer’s profile.
• Additional Reporting: Some businesses must submit supplementary declarations, such as the Annual Information Return (IES), typically due by July 15th.

Conclusion

Staying informed about Portugal’s fiscal calendar and tax deadlines is essential to maintain compliance and avoid fines. Whether you are an individual taxpayer or a business owner, managing deadlines carefully will help you navigate the Portuguese tax system smoothly.