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Swedish parliament to revoke its double tax treaty with Portugal


Swedish parliament to revoke its double tax treaty with Portugal
The proposal that the Government of Sweden sent to parliament to denounce the convention to avoid double taxation (CDT) with Portugal will be voted on 02 June.
At the origin of this initiative is the fact that until now, Portugal has failed to ratify the protocol to the agreement signed by the two countries in May 2019.
Under the tutelage of Magdalena Andersson, the Swedish government decided to present a bill to parliament proposing the termination of the double tax treaty, informing the Portuguese executive that it could be reversed if Portugal ratifies the protocol amending the treaty before parliament votes on the diploma. ....

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Opening and Closing a Business Activity


Opening and Closing a Business Activity
By Dennis Swing Greene,
in Business ·
12-02-2021 01:00:00 · 0 Comments
Whether for profit or pleasure, the truth is that there are many people who choose to be sole traders as a way to make a living.
More than one out of five Portuguese workers are self-employed, a percentage that places Portugal within the highest level of entrepreneurs in the EU. For a person to operate as a sole trader, there are some preliminary requirements that must be met with Tax Authority and Social Security Administration before starting up a business operation.
Opening a business activity ....

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Aggregate vs Autonomous Reporting Options


Aggregate vs Autonomous Reporting Options
When assessing Company profits, taxation occurs in a two-stage process: first, the Company pays Corporate Income Tax on its profits, then Shareholders pay Individual Income Tax on these distributed profits (now called dividends).
This assessment procedure is called “economic” double taxation. Almost all countries in the EU have adopted one of several methods to eliminate “economic” double taxation-some via the Company, some via the Individual. Regardless of the method, the end result should be the same: dividends reported by the Individual should be after the elimination of any “economic” double taxation.
Subsequently, on “in-bound” dividends (from other EU countries), “international” double taxation (two jurisdictions potentially taxing the same income source twice) is eliminated according to the rules of the respective Double Tax Convention (DTC). ....

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Residency Registration for British Nationals


Residency Registration for British Nationals
By Dennis Swing Greene,
in Business ·
11-12-2020 01:00:00 · 0 Comments
Even in the year of the pandemic, many British nationals continue to seek out Portugal as a popular destination.
The UK government has multiplied notices to UK citizens who reside in Portugal to have their documentation in order by 31 December. Currently, there are more than 50,000 British nationals residing in Portugal, ranking Portugal in sixth place behind Spain, Ireland, France, Germany and Italy. Official data in 2019 from the Portuguese Immigration and Borders Service (SEF) indicated there were 34,358 UK citizens officially residents in Portugal. SEF officials explain that from January to October 2020, a further 6,469 new Residency Permits were issued to UK nationals for a ....

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