Portugal: First special payment on account is waived
Portugal Tax Alert
Corporate Income Tax taxpayers are waived from the first special payment on account (PEC) by Order 92/2022-XXII, of 14 March 2022, which had to made, when mandatory, by 31 March 2022 (when they have a tax period equal to the calendar year) or by the end of the third month of corresponding fiscal period.
If the 2022 State Budget Law, which will be approved in the meantime, does not eliminate the obligation to pay PECs, the first PEC can be made, without any burden or charge, on the deadline of the second PEC, i.e. by the end of the tenth month of respective fiscal period.
In fact, the Proposal of the State Budget for 2022 rejected by the Parliament in last November foreseen the elimination of these payments. Therefore, if the new Proposal presented in this regard contains the same measure, it will not be approved in time to avoid the first payment.
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