IRS business taxes are changing.jpg

IRS business taxes are changing

IN REVISED IRS business taxation law, the government will be penalising companies that use personal cheques to make payments. Any payments made from private bank accounts of shareholders will be fined.

This is one of the big changes for 2007, with company bank accounts having to be used to pay suppliers. This is also aplicable for small businesses.

Taxes on offshore accounts have been lowered and the law concerning gifts of properties to family members has also changed.

At the English-speaking seminar, Doing Business in Portugal, on January 17, at the Hotel Vila Galé Náutico in Armação de Pêra, Dr Filomena Ramilo will explain how to organise your companies documents and accounts so that they adhere to the changes in the law.

She will also give advice on how to legalise and restructure your staff, several ways of legalising a business according to its size and will explain the several cases of IRC, IRS and IVA tax exemption.

The seminar will also explain capital gains tax for residents and non residents.

According to Dr Filomena, internal organisation is very important. She believes that employers must have a job discription of every member of staff, confirming that their tasks are in line with their salary receipts.

Subsidies from the government are given to companies – 50 per cent to help with the recruiting of personnel and 60 per cent to non profit making associations.

Please book by fax on 219 239 199, email [email protected] or call 219 239 190 with the name of your company, your name and position in the company, as well as a small description of what your company does.

Places are guaranted only after payment by cheque to: Granja Contabilidade e Consultoria Fiscal, Lda., Recta da Granja, Granja Park, L4, Campo Raso, 2710-142 Sintra.

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