Fiscalidade I

Financial accounting and Introduction to law.

Theoretical exposition, followed by the resolution of practical cases.

It is expected that, by the end of the curricular unit, each student is entitled to understand the Portuguese tax system, specifically in what concerns Personal Income Tax and Value Added Tax, and is able to solve practical cases related to Personal Income Tax and Value Added Tax.

Learning objective: to memorise, understand, apply, analyse and summarise information, specifically relating to personal income tax (IRS) and VAT.

Skills to be developed: the ability to frame tax-related facts and act in compliance with obligations regarding personal income tax (IRS) and VAT.

 1. The Portuguese tax system: framework, contribbution to SDGs / “Anti-corruption Agenda”.

2. Personal Income Tax (IRS)

2.1.   Real incidence – categories of income

2.2.   Personal incidence – residence

2.2.1.Incomes by residents including those obtained outside Portuguese territory

2.2.2.Incomes by non-residents obtained in Portuguese territory

2.3.   Taxable income and rates (Inclusion, Deductions by category, Simplified scheme)

2.4.   Taxable amount deductions, Assessment and Payment

2.5.   Practical cases for application

2.5.1.Calculations related to determination of taxable income of the several categories, application of rates, taxable amount deductions and tax amount to be paid/received.

2.5.2.Calculations based on the Simplified scheme.

2.6.   Declarative requirements (namely, article 57 Tax return and contact with the “Modelo 3” and its attachments)

3. Value Added Tax (VAT)

3.1.   Main aspects of the VAT

3.2.   Real incidence 

3.2.1. Concept of supplies of goods and services; and intra-community acquisitions of goods in the national territory according with the VAT System for Intra-Community Transactions

3.2.2.National territory, territory of the Community, third country or territory

3.2.3.Localization of operations

3.2.4.Reverse charge mechanism (inc. in case of Intra-Community acquisitions article 14 and article 19  RITI)

3.2.5. VAT treatment of international transactions: rules for the place of transactions (article 6); full exemptions in respect of Exports (article 14); imports (inc. output VAT on entry to the European Area; Intra-Community Transactions.

3.3.   Personal incidence: national and non-national taxable entities; non-taxable entities; the concept of the inversion if the taxable person.

3.4.   Taxable event, chargeability of tax, deadline for issue and formalities of invoices

3.5.   Exemptions (article 9; Special exemption scheme; exemptions related to Exports, article 14; VAT treatment of imports, article 13). Right to waive exemption from VAT.

3.6.   Taxable amount and rates

3.7.   Right of deduction – Subtractive method; non-deductible VAT

3.8.   Practical cases for application – Calculations of assessed tax, input tax, deducted tax, including self-assessment, and periodic tax assessments

3.9.   Obligations of taxable entities: invoicing obligations, accounting requirements, payment and declarative requirements (inc. periodic declarations).

1. Periodic evaluation, comprising:

a) 1 work, with a weight of 30% of the final mark;

b) 1 test, with a weight of 70% of the final mark.

If, in any element referred to in 1, the student obtains a mark of less than 8,00 out of 20, the student will not be approved by the periodic evaluation method.

Class attendance is compulsory for periodic assessment, with a minimum of 70% of classes. Working students are not subject to this requirement (REG3_02.01, Article 13, 5). Exceptions may be considered.

In the context of the periodic assessment design in this CU, approval in any of the components cannot be achieved during the appeal period.

2. Evaluation by examination, comprising:

a) 1 examination (written).

NAO