Portugal: Approved the withholding tax rates applicable in 2023
Portugal Tax Alert
The withholding tax rates applicable to employment income (category A) and pensions (category H), obtained by the resident taxpayers in mainland Portugal, during the first and the second semester of 2023, were approved by Order no. º 14043-A/2022, of 05 December, and by Order no. º 14043-B/2022, of 5 December.
It should be noted that the non-delivery, total or partial, of said amounts represents a tax offence according to the law, despite of the substitute's liability for the compensatory interest due from the delivery date until the end of the deadline for the submission of the corresponding return by the original responsible or until the date of delivery of the tax withheld, if previous.
Order No. 14043-A/2022, of 5 December, entered into force on 6 December, 2022, however the referred rates should only be applied to income of this nature that is paid or made available to the respective beneficiaries in 2023. This Order takes effect until 30 June, 2023.
Order n.º 14043-B/2022, of 5 December, enters into force on 1 January, 2023 and takes effect from 1 July, 2023, onwards.
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