Globalization and our fast-changing world transformed tax functions way beyond compliance. Adequate management of tax risks and tax efficiency are key facts in the day-to-day management of organizations.
Keeping up to date on developments and the frequently changing rules, we ensure that our clients have a clear and full understanding, enabling them to make the right decisions with confidence.
With decades of tax experience and global expertise, our team provides solid advisory and tax compliance services to a wide range of clients, both within Portugal and globally, helping them find their way in the increasingly complex world of tax.
Our range of tax services include:
Our range of advisory services aims to advise all types of entities (companies, foundations, associations, cooperatives, public sector, etc.) and private individuals on Portuguese tax matters.
At PKF we offer dedicated tax advisory services:
- Corporate tax: advisory regarding the tax implications of certain transactions/operations carried by our clients, including the preparation of Bidding information requests to be filed with the tax authorities.
- Inbound investments: Based on the investment structure of the investors, we analyse and prepare tailored tax reports which cover the most relevant tax matters in Portugal. Our analysis covers the potential tax issues, risk areas reflecting the three phases of the life cycle of the investment, (i) at acquisition, (ii) ownership period, and (iii) on disposal, including the analyses of the inbound and outbound flows of capital investment, financing, interest, dividends, as well as capital gains taxation.
- Group Reorganizations: We assist our clients on the tax aspects of corporate reorganizations, that, in some cases, facilitate the entry of new investors. Based on the client´s business models, we present the tax implications associated with each alternative scenario, with a description of the tax advantages and disadvantages of the proposed structure.
- VAT: advisory regarding liability rules, deductibility and tax clearance, location of operations, taxation of operations with other EU countries or external to the EU, aid in the taxation of operations performed by non-residents in Portugal
- Property taxes and stamp duty, namely on real estate and financing operations/transactions.
Local and international corporate tax obligations duly met are key for your business, both to calculate and report liabilities correctly through the annual tax return and to make accurate payments to tax authorities by their due date. We work with many businesses alongside our audit and accounting teams to fulfil these requirements efficiently and in line with the annual accounting process.
The compliance process is not just a routine obligation, but an opportunity to provide additional support, assistance and optimization, through the identification of tax risks and potential inefficiencies. This is performed not only on corporate tax matters, but also VAT, employment taxes and potential cross-border issues.
Our services include:
- Preparing and filing all tax obligations regarding individuals and companies
- VAT Representation services, for individuals and companies without a presence in Portugal, being responsible for the periodical VAT filing obligations
- Stamp Tax Representation services, for insurance and banks without a presence in Portugal, being liable for preparing and filing the monthly stamp tax return.
Tax inspections can be stressful, costly and time-consuming. Tax authorities are increasing the number and scope of tax investigations into both individuals and businesses, covering all aspects of potential underpayments of tax, including offshore investments, personal and corporate self-assessment tax returns, and VAT.
Our team deals with matters ranging from individual tax disputes to large company complex cases. We help individuals and companies under inspection, ranging from inquiries that may involve the preparation of written answers and/or gathering information to be sent to the tax authorities through the attendance of meetings to discuss critical issues with the tax inspectors and advice on voluntary disclosures or help to conduct tax appeals or litigation.
International mobility of employees brings additional complexity to the human resources departments, requiring companies to pay special attention to the tax implications of the employees’ salary packages.
Our specialized team can assist our clients with the definition and management of expatriates’ procedures, as well as providing support to those expatriates for their tax registration process, the preparation of the personal income tax returns and tax statements and computation of taxes due.
We also assist companies with a complete payroll service, which includes the processing of salaries to staff, payment of personal taxes and payment of contributions to Social Security.
Our services include support in:
- Payroll services
- Definition and/or optimization of salary packages for tax purposes
- Filling personal income tax returns
- Analysis of the tax and social security regime applicable to non-residents and support in its application
- Non-habitual tax regime (NHR tax regime)
Globalization and growing scrutiny over multinational groups are pushing the transfer pricing topic to the agenda of tax authorities globally. Moreover, the OECD’s BEPS measures have prompted tax authorities to introduce additional transfer pricing obligations for taxpayers.
With more litigation on the radar, a shift from compliance to strategic risk management is a key factor to success for future transfer pricing documentation.
As a global service provider, PKF has transfer pricing specialists who are fully abreast of the changes and can assist you in meeting your local, regional and global obligations, and deliver the following services:
- Preparation or review of any reporting obligation (Masterfile, local file, country by country reporting or relevant annexes to IES)
- Economic analyses, including commercial, loan and license benchmarks
- Value chain analysis and optimization
- Design and implementation of tax-efficient strategies
- Transfer pricing inspections and advance pricing agreements
- Risk assessment analysis
- Strategic advice on all aspects of transfer pricing
PKF is a global service provider and through its network of member firms, it can provide complete global coverage and a complete range of Value Added Tax, Customs and Excise duties services to fully meet your requirements.
Our services include:
- VAT refunds / recovery
- Definition and implementation of invoicing solutions
- SAFT-PT file – communication of billing and logistic information to tax authorities
- VAT representation services
We have a skilled tax team to support our clients’ needs through the transaction life cycle focused on identifying possible tax risks and tax opportunities.
The services to be provided will ensure a proper tax strategy to your deal and may include:
- Tax due diligence (buyers-side or vendors-side)
- Tax assistance during transactions, reviewing the SPA tax clauses and support at negotiations
- Review of the tax assumptions on the business’s financial models
Non-EU residents, individuals, or companies, that need to have a Portuguese taxpayer number have to appoint a tax representative in Portugal. A tax representative in Portugal is responsible and liable for the liaison between a non-EU resident individual or company and the Portuguese Tax Authorities on any tax matters that may arise. As the Tax Representative, we will receive all Tax Department correspondence in respect of the tax affairs of its representatives and will inform and act on its behalf to ensure that their tax responsibilities are fulfilled.
You can find PKF's 'Worldwide Tax Guide - 2020/21' here
José Parada Ramos
+351 968 776 393
José has over 30 years of experience working in Tax. He has been involved in a wide range of due diligence projects and also provides regular tax advice to PKF’s audit clients.
He is the head of Tax Technical Committee of the Statutory Auditors Institute (“OROC”). Previously he worked in the Tax practices of PwC, Moore Stephens and Deloitte Haskins & Sells .
Masters Degree in Advanced Financial Accounting and Degree in Management both at INDEG/ISCTE Business School. He is a Certified Public Accountant.
+351 917 891 406
Elsa has 25+ years of experience in providing tax consultancy services to Portuguese and multinational companies including tax due diligence, tax structuring of investments, and tax support for operations.
Before joining PKF, she was Tax Director at PwC, having been Deputy Secretary of State to the Prime Minister in the XIX Constitutional Government and Economic Advisor at the IMF offices in Portugal.
She holds a degree in Business Organization and Management from ISCTE, and has an Executive MBA in Management and Real Estate Finance from Indeg / ISCTE and a Postgraduate Diploma in Public Administration SNC.