Ministry of Finance – General Directorate of Treasury and Finance
Notice No. 131/2014, of 6 January

Reference  rate  for  the  calculation  of  Government -Sponsored  Credit  (TRCB)  in  force between 1 January and 30 June 2014.

Agência de Gestão da Tesouraria e da Dívida Pública — IGCP, E. P. E.
Notice No. 219/2014, of 7 January

Interest rate for late payment applicable to the debts towards the State and other public entities.

The rate was set at 5.535 % being applicable from 1 January 2014 ownards.

Council of Ministers
Announcement of the Council of Ministers, of 9 January 
Legislative Proposal No. 193/XII

The Council of Ministers approved a proposal for the amendment of the 2014 State Budget to overcome the budgetary issue of sustainability of the costs borne with pensions following the decision of unconstitutionality regarding the convergence of the pensions of Caixa Geral de Aposentações (“CGA”) with the social security system  – Legislative Proposal No. 193/XII.

Under the Legislative Proposal, amendments are to be introduced in the Extraordinary Solidarity Contribution (“CES”), by means of reduction of the minimum taxable amount of the lifetime pensions (due to pensioners, retirees, pre-retirees or alike), as well as by increasing the applicable thresholds for the cumulative rate application, as follows :

Click here to view table.

The gross monthly pension, deducted from the CES, cannot be lower than EUR 1,000.00, being the effective CES amount limited to a value that ensures such minimum pension .

Moreover, where the pension is paid by CGA and has already been reduced under the convergence of this regime with the general social security regime, CES will not be due. .

On the other hand, 50% of the proceeds of the contribution of the employer provided for in the scope of the regime of benefits of Direcção-Geral de Protecção Social aos Trabalhadores em Funções Públicas (“ADSE”) is to be allocated to the Treasury, not being ADSE’s own revenue.

Ministry of Finance – Office of the Minister 
Order No. 706-A/2014, of 15 January

Personal income tax withholding tables for 2014.

Ministry of Foreign Affairs
Notice No. 9/2014, of 15 January

Announcing the compliance with all internal constitutional formal requirements for the approval of the Protocol amending the Convention between the Portuguese Republic and the Republic of Singapore to Avoid Double Taxation and Prevent Tax Evasion in the Area of Income Tax, signed in Singapore on 28 May 2012.

Ministry of Foreign Affairs
Notice No. 11/2014, of 15 January

Announcing the compliance with all internal constitutional formal requirements for the approval of the Convention between the Portuguese Republic and the State of Kuwait to Avoid Double Taxation and Prevent Tax Evasion in the Area of Income Tax , signed in Lisbon, on 23 February 2010.

Parliament
Law No. 2/2014 of 16 January

Corporate Income Tax Reform, amending the Corporate Income Tax Code, adopted by Decree-Law No. 442-B/88, of 30 November, Regulatory Decree No. 25/2009 of 14 September and the Personal Income Tax Code, approved by Decree-Law No. 442-A/88 of 30 November.

For a detailed analysis of the Corporate Income Tax Reform, please refer to ou r LEGAL FLASH TAX Corporate Income Tax Reform | January, 2014.

Ministry of Finance
Ordinance No. 15-A/2014, of 24 January

Approving the instructions for completion of the Monthly Declaration of Income - AT, provided for in article 119(1)(c)(i) and (d) of the Personal Income Tax Code (“CIRS”).

Autonomous Region of Azores – Legislative Assembly
Legislative Regional Decree No. 2/2014/A, of 29 January

Approving the Autonomous Region of Azores’s Budget Law for 2014.

Ministry of Finance – Office of the Secretary of State of Fiscal Affairs
Order No. 1576/2014, of 31 January

Approving the amendments to the corporate income Mod. 22 annual tax return and the corresponding instructions for completion.