Portugal, being bordered by the Atlantic Ocean and by Spain, is one of the world’s most globalized, responsive and peaceful nations. It has a rich history of seafaring and discovery.
Portugal’s capital Lisbon is recognised as a global city because of its importance in finance, commerce, entertainment, media, arts, international trade, tourism and education.
Portugal known for its high living standard, advanced economy and high quality infrastructure has a very well ranked road network. It is the home to a number of notable leading companies with good international reputation. Tourism, energy, and agriculture are the major sources of income.
The progressive tax system has 8 income tax brackets and CXC is aware of the registration of special tax regime for the contingent workforce.
CXC Global’s local expertise and knowledge of Portugese labour and tax laws, allows us to work closely with our clients, assist with Local Tax and Social Security Registration, VAT Registration, including a preparation of a personal income tax return at the end of the tax year.
Contracting in Portugal has some complexity. The taxation system in Portugal is a progressive multi-layered system. Portugal is recognised for being a country with some of the best living standards in Southern Europe. They have entered into Double Taxation Treaties with some countries, and have a special registration scheme for contract workers. For foreign national contract workers, contracting in Portugal, it would be wise to consult with CXC Global on the best way to structure, and how best to balance taxation.