Target Groups and Application Eligibility:
Taxpayers who disagree with taxable income assessment
- Petition to the Review Committee for Profits Tax in which reasons for disagreement shall be fully stated and evidence provided;
- Photocopy of Notification of taxable income assessment form M/5 and the respective envelope.
Within 15 days counting from the date of receipt of the Notification of taxable income assessment
- Notification via registered mail to the taxpayer is presumed received on the 5th day counting from the date of mail. If the 5th day happens to be a Sunday or a public holiday, the receipt date will be the subsequent working day. For mailing purpose, Saturday is considered to be a working day.
- With regards to an appeal lodged, the tax payment will be suspended until the decision of the Review Committee is reached.
- In the event that the appeal is totally or partially allowed, the Committee will review the taxable income and make another assessment.
- If the objection is totally rejected, the Committee will impose a surcharge not more than 5% of the tax payable.
- The decision of the Review Committee will be notified in written form to the taxpayer.
- Objection and judicial appeal against the decision of the Review Committee shall be lodged within 15 and 45 days respectively.
- Objection and judicial appeal against the decision of the Review Committee does not suspend the duty of tax payment.
- For natural person applicants (individuals), signatures can be authenticated at the “Finanças” Building of the Financial Services Bureau, Taipa Service Centre or Integrated Services Centre by presenting the original of identification document that contains signature for verification.
- For legal person applicants (companies or associations), signatures of representatives must be authenticated at the Public Notary Office or a private notary.
- Law No. 21/78/M, Official Gazette No. 36/1978, published on: 9/9/1978
- Directive No. 12/80, Official Gazette No. 10/1980, published on: 8/3/1980
- Directive No. 49/80, Official Gazette No. 31/1980, published on: 2/8/1980
- Law No. 15/96/M, Official Gazette No. 33/1996, published on: 12/8/1996
- Directive No. 59/GM/97, Official Gazette No. 38/1997, published on: 22/9/1997
- Law No. 12/2003, Official Gazette No. 32/2003, published on: 11/8/2003
- Chief Executive Order No. 11/2004, Official Gazette No. 17/2004, published on: 28/4/2004
- Law No. 4/2005, Official Gazette No. 29/2005, published on: 18/7/2005