Base Knowledge
Financial accounting and Introduction to law.
Teaching Methodologies
Theoretical exposition, followed by the resolution of practical cases.
Learning Results
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.
Program
1. The Portuguese tax system: framework
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).
Curricular Unit Teachers
Internship(s)
NAO
Bibliography
Legislation
Administrative and Judicial Procedure Code (CPPT)
Constitution of the Portuguese Republic
Personal Income Tax Code (CIRS)
Value Added Tax Code (CIVA)
Tax Benefits Statute (EBF)
General Taxation Law (LGT)
VAT System for Intra-Community Transactions (RITI)
Books
Pereira, P. R. (2021). Manual de IRS. (3rd ed.). Almedina.
Rocha, I. & Rocha, J. F. (2022). Fiscal 2022/23: Códigos tributários e legislação conexa. (43rd ed.). Porto Editora.
Rocha, I. & Rocha, J. F. (2022). Fiscal 2022/23: Códigos tributários e legislação conexa – Edição académica. (28th ed.). Porto Editora.
Sarmento, J. M. (2021). Manual Teórico-Prático de IVA. (3rd ed.). Almedina.