The Portuguese Government has new proposed law exempts to start-up multinational groups from a supplementary 15% minimum tax for their first five years of international operations. This aims to support groups beginning their global expansion without financial strain.
The regime requires multinationals and large groups with revenues of 750 million€ or more in the initial phase of business activity are excluded from the application of the 15% minimum supplementary tax for the first five years.
However, according to the law, the supplementary tax due by a final parent entity is “equal to zero” for the first five fiscal years. In addition, it establishes that this exemption also applies to large national groups that became newly qualified due to increased turnover.
However, according to the law, the supplementary tax due by a final parent entity is “equal to zero” for the first five fiscal years. In addition, it establishes that this exemption also applies to large national groups that became newly qualified due to increased turnover.
The Portuguese Government also stipulates that multinational groups with parent entities located outside Portugal also benefit from a zero supplementary tax rate during their initial international phase.
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