Accounting services in Portugal

In the vibrant tapestry of European commerce, Portugal stands as a beacon of economic resilience and innovation. From the bustling streets of Lisbon to the historic alleys of Porto, Portugal’s entrepreneurial spirit permeates every facet of its society. At the heart of this economic dynamism lies the pivotal role of accounting services, which have evolved in tandem with Portugal’s journey towards modernization and global integration. We take pride in offering exceptional accounting services designed to boost the financial success of your company. We tailor our solutions to meet the specific needs of your business, ensuring that your financial operations are effectively aligned with the prosperous economic environment of Portugal.

Our monthly services, starting from 600 euros + VAT, include:

• Business commencement declaration
• VAT registration in the EU
• Social Security registration
• Monthly bookkeeping
• Quarterly VAT declarations
• Monthly sales report
• Corporate tax filing
• Payroll management
• Dedicated accountant

Additional services: Services not included in the package, such as Labor Contract Management, Payroll Management, Income Tax Declaration, among others, have an individually provided cost.

• Hiring accounting or consultancy services to manage your company’s finances has several advantages:
• Advisory: Accounting professionals provide precise advice on the initial steps in starting a business, business projects, or self-employment. They stay updated on accounting legislation and new laws, offering guidance on implications and limitations.
• Organization and Savings:Delegating financial management ensures keeping up with invoices, receipts, and declarations, resulting in a more organized company. Timely document submission maximizes deductions and allows access to unknown grants and subsidies.
• Time Optimization: Hiring an accountant saves time and effort, as they quickly resolve concerns that would require significant learning for others.
• Confidentiality: Information shared with accounting professionals is treated with the confidentiality of professional secrecy, allowing free consultation on any past or present aspect of the company.
• Planning: Accounting advisors assist in the development of strategies and business plans, optimizing resources and managing finances appropriately according to the size and characteristics of the company. Hiring competent professionals is a wise investment.

ACCOUNTING SERVICES IN PORTUGAL

Portugal’s accounting sector has undergone a remarkable metamorphosis. In the wake of globalization and EU integration, the demand for professional accounting services has surged, driven by a burgeoning entrepreneurial ecosystem and regulatory reforms aimed at fostering transparency and accountability. Today, accounting firms in Portugal offer a diverse array of services tailored to meet the needs of businesses operating in an increasingly complex and interconnected world. From tax compliance and financial reporting to advisory services and forensic accounting, these firms play a pivotal role in ensuring the fiscal health and regulatory compliance of their clients.

Central to the functioning of Portugal’s accounting sector is its robust regulatory framework, which is designed to uphold the highest standards of professionalism and integrity. The Portuguese Accounting Standards Board (Conselho de Normas Contabilísticas) sets the guidelines for financial reporting, ensuring consistency and transparency across different industries and sectors. Moreover, Portugal’s accession to the European Union has harmonized its accounting standards with those of its European counterparts, facilitating cross-border transactions and enhancing the country’s attractiveness to foreign investors. Looking ahead, the future of accounting services in Portugal appears bright, buoyed by a resilient economy, technological innovation, and a commitment to excellence. As businesses navigate the complexities of an increasingly interconnected world, the demand for skilled accounting professionals will continue to grow, driving further specialization and diversification within the sector.

TAX SYSTEM IN PORTUGAL

Understanding the tax landscape is paramount for businesses to thrive sustainably in Portugal. In this comprehensive guide, we delve into the nuances of business taxation, offering insights and strategies to empower entrepreneurs and established enterprises alike.

Portugal maintains a competitive corporate tax regime, with a standard rate of 21% on corporate profits. However, small and medium-sized enterprises (SMEs) benefit from a reduced corporate tax rate of 17%, applicable to the first €25,000 of taxable income. This incentive aims to bolster entrepreneurship and support the growth of smaller businesses. VAT, known as Imposto sobre o Valor Acrescentado (IVA) in Portuguese, is a consumption tax levied on goods and services. Portugal operates under a tiered VAT system, with standard rates ranging from 6% to 23%. Essential goods such as food, water, and pharmaceuticals enjoy reduced rates, while certain services, such as healthcare and education, are exempt from VAT. Portugal imposes withholding taxes on various types of income, including dividends, interest, and royalties. For dividends distributed to non-resident companies, the withholding tax rate is typically 25%, although this can be reduced under tax treaties. Similarly, interest and royalty payments are subject to withholding taxes at rates of 25% and 10%, respectively. Capital gains derived from the sale of assets, including real estate and shares, are subject to taxation in Portugal. For corporations, capital gains are generally treated as ordinary income and taxed at the standard corporate tax rate. However, certain exemptions and reliefs may apply, particularly in the case of reinvestment or qualifying transactions.

WHY CHOOSE US?

Navigating the fiscal landscape in Portugal requires diligence, expertise, and a comprehensive understanding of tax laws and regulations. By leveraging available incentives, optimizing tax strategies, and maintaining compliance with reporting obligations, businesses can thrive and contribute to Portugal’s dynamic economy. As businesses continue to evolve in an ever-changing global landscape, staying informed and proactive in tax planning is essential for long-term success. Our team of certified accountants provides expert advice, ensuring that your finances are organized, up-to-date with legislation, and optimized for success. We guarantee confidentiality, time savings, and access to financial opportunities. Contact us to invest wisely in the progress of your company.