Automatic “IRS” Reporting The Portuguese Tax Authority (“AT”) is making available Automatic “IRS” Reporting to millions of taxpayers in Portugal. The change is part of “Simplex”, a programme designed to reduce bureaucracy at all levels of government. The move has similarities to “PAYE” (Pay-As-You-Earn) in the United Kingdom where taxpayers…
Posts tagged as “reporting”
When assessing Company profits, taxation occurs in a two-stage process: first, the Company pays Corporate Income Tax on its profits, then Shareholders pay Individual Income Tax on these distributed profits (now called dividends). This assessment procedure is called “economic” double taxation. Almost all countries in the EU have adopted one…