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Tax authorities want to harmonize corporate taxation from 2025

The tax authorities have concluded the public consultation on the proposal for the Corporate Income Tax Code (IRPC), with which they intend to harmonize corporate taxation from 2025 onwards, a tax administration source said this Thursday.

: Ampe Rogério/Lusa
Ampe Rogério/Lusa  

According to the president of the board of directors of the General Tax Administration (AGT), who opened, this Thursday, a conference on taxation, promoted by Deloitte, ended on the 12th the public consultation on the proposal for the Corporate Income Tax Code (IRPC), which simplifies the form of taxation on company profits.

The report on the consultation is now in the analysis phase and will then be submitted to the Council of Ministers, said José Leiria.

The official added that the first draft of the Personal Income Tax should also be submitted to the Government's economic team, to be put out for public consultation this year.

"We expect that, at the end of the year, we will have the proposal submitted for public consultation and thus we will have a consolidated step with regard to income taxation of both natural and legal persons", he stressed.

In turn, the administrator of AGT, Leonildo Manuel, said that there was a need to revisit the form of income taxation, because the current one was complex for companies.

Leonildo Manuel recognized that, in a system like the current one, taxpayers have greater difficulty in complying with their obligations, because they have different deadlines and obligations.

Faced with this situation, according to the person responsible, doubts, non-compliance and, consequently, the level of litigation increase.

The AGT administrator highlighted that this tax will simplify the entire taxation process, meaning there will no longer be several taxes, incorporated into just one.

"Taxpayers no longer have the obligation to comply with various declarative obligations, (...) they no longer have several calendars or deadlines and with this we now have a simpler system, fewer doubts, less contentious", he stressed, also pointing out as an advantage for companies, less expenditure on tax compliance.

Speaking to the press, the head of tax consultancy at Deloitte, Renato Carreira, said that companies nowadays pay taxes based on various taxes and from 2025 this situation will change.

"This will simplify the lives of companies, it will harmonize our tax system in line with more developed countries and I think it is a very positive contribution to development", he said.

Renato Carreira highlighted that companies now have the possibility of taxing their profits in a unique way, submitting a single tax return instead of the several they currently submit.

The head of Deloitte said that the tax authorities have already overcome many of the main challenges it faced, but there is still "some maturity that has to be acquired".

"We have legislative instruments at the level of the most developed countries. With this reform of the single tax, we bring our regulatory framework closer to that of partner countries, we naturally have to further deepen the application of all these rules and everyone's awareness of the public good which means we all contribute to the State", he maintained.

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