Ministry of Finance

Ordinance no. 420-A/2015, of December 31

Approves the maximum and minimum location coefficients to apply in each municipality, and updates the zoning, the land percentages and the single-family houses’ majoring coefficients, in order to determine the properties’ taxable value.

Ministry of Finance

Ordinance no. 419/2015, of December 31

Settles the average construction value by square meter in €492,40, for Property Tax purposes, relating to all the properties whose tax forms modelo 1 are delivered from 1 January 2016 onwards.

Parliament

Law no. 159-B/2015, of December 30

Determines the reduction of the extraordinary solidarity contribution regar ding pensions and other payments due from 1 January onwards. The contribution will be equivalent to 7.5% of the amount that exceeds 11 times the value of the Social Support Index (IAS) and up to 17 times of said value, and to 20% of the amount that exceeds 17 times the value of the IAS.

Ministry of Finance

Ordinance no. 420-A/2015, of December 31

Approves the maximum and minimum location coefficients to apply in each municipality, and updates the zoning, the land percentages and the single-family houses’ majoring coefficients, in order to determine the properties’ taxable value.

Ministry of Finance

Ordinance no. 419/2015, of December 31

Settles the average construction value by square meter in €492,40, for Property Tax purposes, relating to all the properties whose tax forms modelo 1 are delivered from 1 January 2016 onwards.

Parliament

Law no. 159-B/2015, of December 30

Determines the reduction of the extraordinary solidarity contribution regar ding pensions and other payments due from 1 January onwards. The contribution will be equivalent to 7.5% of the amount that exceeds 11 times the value of the Social Support Index (IAS) and up to 17 times of said value, and to 20% of the amount that exceeds 17 times the value of the IAS.

The extraordinary solidarity contribution is expected to be repealed regarding pensions and other payments due from 1 January 2017 onward.

Parliament

Law no. 159-C/2015, of 30 December

Determines that the extraordinary contribution over the pharmaceutical industry, the additional rate of the Single Tax on Vehicles Use (IUC), the additional to the rates of the Oil and Energy Products Tax, the contribution over the banking sector and the extraordinary contribution over the energy sector will remain in force during the year 2016, and regulates their implementation.

Parliament

Law no. 159-D/2015, of December 30

Repeals the surcharge of Personal Income Tax, determining that the income earned from 1 January 2017 onward will no longer be subject to the surcharge, and that income earned in the year 2016 will be subject to the surcharge, in accordance with the following table:

Click here to view table.

Council of Ministers

Regulatory Decree no 19/2015, of December 30

Sets the maximum limits of the impairment losses and other corrections of value for specific credit risk, deductible for the purposes of determining the taxable profit for Corporate Income Tax (CIT) purposes, determining the rules for its assessment, for the taxable periods starting in or after 1 January 2015, pursuant to articles 28-A, no. 2 and 28-C of the CIT Code.

Ministry of Finance

Secretary of State for Tax Affairs

Order no. 10/2015, of December 28

Postpones, until the end of March 2015, the deadline for Portuguese financial institutions to report the data and information foreseen in article 7 of the Financial Information Reporting Regime (RCIF) to the Customs and Tax Authority (AT).

This is the third postponement  of the  original reporting deadline, since neither the Agreement between the Portuguese Republic and the USA to Reinforce the Tax Compliance and implement the Foreign Account Tax Compliance Act (FACTA) has been approved and ratified, nor have the provisions required for its entering inti force been approved.