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If you wish to become a Freelancer or a Self-employed Independent worker in Portugal, the first step is to register your business activity with the Portuguese Tax authorities. As long as your income is below €200,000 per year, you may benefit from the Simplified Regime which is the simplest and cost-effective, with an assessment based on a fixed percentage, depending on the activity and income received.
Prior to making your Self-Employment Business Registration, both your expected income level and VAT regime under which you will operate have to be considered. Although the VAT exemption regime means that you will not charge VAT on your invoices and, therefore, you will not have to deal with periodic declaratory obligations and eventual VAT deliveries to the State, on the other hand, you will not be able to deduct VAT expenses with your activity.
Once your registration has been confirmed, mandatory invoices must be issued within the deadline using a licensed invoicing software or through the online green receipts. In Portugal, monthly contributions to Social Security are mandatory for all self-employed, except for Local Lodging activities, to guarantee stability and continuity over the course of the contribution career and assure future pension entitlements, as well as other social benefits associated with occurrences of unemployment or illness. Newly established self-employed are entitled to 12 months exemption of monthly Social Security contributions.
In 2014 Portugal published a specific legislation for those that wish to rent their properties to tourists. A business activity must be registered with the Tax Authorities and a License with the Tourism of Portugal and Local Council must be requested.
To be compliant with the Portuguese Authorities, TaxTeam Consulting offers you a comprehensive service to help you with the necessary fiscal requirements such as: Reporting income to the Tax Authorities, Bookkeeping, Fiscal Representation, VAT returns, advisement, as well as tourist reporting to the Immigration and Borders Service (SEF), while benefiting of the lowest taxation rate so you may focus on what really matters to you.
We could say anything we want about ourselves, but we think it means a whole lot more coming from clients we’ve been fortunate to work with.
Here is what our clients have to say about working with us.
A high degree of knowledge, affordable pricing, rapid response to any question on tax and A.L. and last but not least friendly and always correct. So, highly recommended !
I am very happy with TaxTeam Consulting guidance etc, Re moving to Portugal and my Taxes
There is a stigma that starting your own business is risky and scary, however with TaxTeam’s precious help everything became easier. Undoubtedly an invaluable ally to achieve success.
We are very satisfied with the service! We are very happy to find Tax team consulting, they have a lot of knowledge and experience, and for us very important; they are pro-active. We don't know all the tax rules, so we really need to have a good accountant! A good accountant is a must for running an economic activity!
We have worked with Paula for years and immediately followed her to TaxTeam. The team offers rapid service & response, extremely knowledgeable in all matters, always helpful and patient in explanations, charming and friendly. Highly recommend.
Thank you for your patience and all the additional explanations and details whenever I have needed them. The Portuguese regulations are very different to those in the uk but you make it much more simpler for me to understand with your supporting. Thank you
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