Government measures in key jurisdictions 5th edition - Flipbook - Page 111
Portugal
•
Simplification procedures for filing of VAT periodic returns of February, March and
referring to the 1st trimester of 2020 with no supporting documentation as long as
substitutive returns are afterwards presented by 20 December 2020. This measure is
only applicable to taxpayers with a turnover lower than Ä10M in 2019 or whose
activity was opened in 2020.
•
Application of reduced VAT rate (6% in Mainland Portugal, 5% in Azores and 4% in
Madeira) to protective masks and disinfectant gel and VAT exemption on health
equipment furnished to hospitals and non-profit health organizations.
•
Exceptional recognition of PDF invoices as “electronic invoices” from April 2020 to
March 2021 for every legal effect.
Social Security deferrals: possibility of, under certain circumstances, reducing to 1/3
the Social Security contributions due between March/April and May/June 2020
for companies and self-employed (the remaining 2/3 should be payable under the same
instalment deferral rules set out above, i.e. payable between July and September 2020 or
between July and December 2020, depending whether payable in 3 or 6
monthly instalments (free of interest and guarantees)).
Temporary exemption from Social Security contributions: exemption which
is, under certain circumstances, automatically applicable to entities benefiting from
the exceptional and temporary measures set for labor protection in the context of the
Covid-19 outbreak.
Company
law matters
•
The use of distance communication mechanisms (i.e. video or teleconference) to hold
meetings of the corporate bodies and pass resolutions is also admissible, provided that
the participation via such means is duly recorded in the relevant minutes of the meetings.
Have any measures
been put in place
to accommodate
social distancing
(such as remote
general meetings)?
Government measures in key jurisdictions
111
