Carlos Reis & Reis

Taxes

All the employees and/or foreign investors need a fiscal Identification Card, in witch is the fiscal number. The mentioned cart can be obtained in any “Repartição de Finanças” The fiscal number must be mentioned in every transaction. In Portugal the IRS is paid monthly, being retained by the company and delivered to the Government. The taxes are progressive e around the 12 to 38 per cent. The residents in Portugal pay by the total amount they receive and the non residents only pay by the amount they receive in Portugal. All the employees are obliged to make monthly contributions to the Social Security. This contributions can go until 11 per cent the monthly salary