IRS 2020 - Taxation of Income By Advertiser, in Business · 23-04-2021 01:00:00 · 0 Comments
Nº 5: Rental Income - Long-term Rentals (Category F)
Income is reported in different categories: A) Salaries, B) Sole Traders, E) Capital, F) Property, G) Capital Gains and H) Pensions and is taxable in Portugal regardless of its origin. For non-residents, only income actually arising in Portugal is subject to assessment.
Long-term property lets (usually having a rental contract between landlord and tenant) are included in Category F and are reported on “Anexo F” in the filing period from April to June. This activity is different from Short-term Holiday Lets which are seen as a business called “Local Lodging” and reported on Annex B - Self-Employment Income.
(f) Sales process including pricing models
(g) Governance roles and processes including Boards, committees and panels together with those individuals that are members.
Details of the group’s strategy for intellectual property/other intangibles, including arrangements in place between two foreign group entities which affect how the group’s commercial activity is carried on in the UK (for example a royalty agreement between a group IP holder and a foreign EMEA sales hub entity which books sales to UK customers).
Details of any internal governance documents outlining the negotiation and sales contract approval process.
The information and document request should be tailored to the specifics of the company concerned and the sector it operates in. In some cases the relevant value chain will relate to a particular line of business. In other cases there may be more than one such value chain presenting diverted profits risks.