Conceito
Conceito was founded in 1982 and it is specialized in providing services related to business support, such as: Accounting, Payroll, Tax compliance, Tax Advisory, Expat Support, Treasury Management and Consultancy. We are one of the top-players in Portugal with 5 offices in Lisbon, Malveira, Porto, Funchal (Madeira Island) and Setúbal. Conceito has approximately 400 employees, which makes us one of the leading accounting firms in Portugal.
What we believe that distinguishes Conceito from the other players is the quality of our services and being a solid and reliable company. Furthermore, our team has a high level of qualification and we have employees fluent in Portuguese, English, Spanish and French. Consequently we are focused in providing services to multinational companies that require our services in Portugal.
| Name of the tax | Value Added Tax |
| Local name | Imposto sobre Valor Acrescentado (IVA) |
| Date introduced | 1 January 1986 |
| Date of membership in EU | 1 January 1986 |
| Administered by | Autoridade Tributária e Aduaneira |
| Rate | Mainland | Medeira | Azores |
| Standard | 23% | 22% | 18% |
| Intermediate | 13% | 12% | 9% |
| Reduced | 6% | 5% | 45 |
| Other | VAT exemptions – either non-liability to VAT on supply of goods or services (such as financial transactions, cultural activities, education and health) or zero-rate” transactions allowing deduction or refund of VAT borne (such as exports or intra-EU dispatches). |
| VAT Number format | Does not exist. The number used as a VAT number is the company/sole trader’s fiscal number. |
| VAT return periods | – Monthly when turnover in preceding VAT year exceeds €650,000 or
– Quarterly when turnover in preceding VAT year is lower than €650,000. Additionally, an annual VAT return must be submitted containing the compiled data (global amounts) in respect of acquisitions and supplies of goods and services carried out in the preceding year. |
| Thresholds registration | For a business registered entity on an individual or company format, to carry out Business transactions in Portugal, it is required to register for VAT. If the turnover exceeds €10,000 it is also required to account for Portuguese VAT. Businesses which are not established in the European Union, must appoint a VAT representative with joint and several liability for the delivery of VAT obligations.
If a business is not registered for VAT in Portugal, but sells and delivers goods from another Member State to customers (distance sales B2C), where the value of those sales exceeds a threshold of €35,000 it is required to register and account for VAT in Portugal. |
| Recovery of VAT by non-established businesses | Yes |
