Running a business in Portugal brings immense potential and complex accounting, audit, and payroll regulations. Navigating these requirements can be time-consuming and resource-intensive, diverting your focus from core business activities.
Novo Solution’s comprehensive suite of services helps you overcome these challenges, ensuring smooth operations and compliance while concentrating on strategic growth.
Payroll Services
- Accurate payroll calculations and deductions
- Timely submissions to Portuguese social security and tax authorities
- Year-end tax reporting and reconciliation
- Employee self-service portal
- Payroll advances and garnishments (optional)
- Bookkeeping and record-keeping
- Financial reporting and analysis
- Tax preparation and filing
- Management accounting and budgeting
- Industry-specific accounting solutions
- Financial audits
- Compliance audits
- Operational audits
- Due diligence audits
- Fraud investigations
Local Features
Feature | Details |
Corporate Tax Rate | 19% (17% for some small and medium-sized businesses) |
VAT Rate | 23% (standard rate), with reduced rates of 6% and 13% for certain goods and services |
Double Taxation Treaties | Over 80 treaties |
Regulatory Environment | Stable, EU-aligned, considered transparent and business-friendly |
Legal System | Civil law |
Employment Law Flexibility | Moderate, with some restrictions on dismissals and working hours |
Financial Reporting Requirements | IFRS for listed companies and large entities, Portuguese GAAP for others |
Payroll Tax/Social Security Contributions | Approx. 34.75% employer (23.75% social security, 11% pension contributions), 11% employee (social security) |
Innovation and Technology Adoption | High, with government initiatives and investments supporting startups and technological development |
Residency and Citizenship Programs | Available, including for entrepreneurs (Golden Visa program) and retirees (D7 visa) |
Peace of Mind through Accuracy and Compliance
Operating a business in Portugal unlocks remarkable opportunities but demands meticulous attention to detail regarding accounting, audit, and payroll regulations. These intricate requirements can be overwhelming, consuming valuable time and resources that could be better directed toward core business activities. Novo Solution steps in as your trusted partner, alleviating these burdens and ensuring seamless operations through our unwavering commitment to accuracy and compliance.
- Meticulous Calculations and Reporting: Our team of seasoned professionals stays abreast of Portugal’s ever-changing tax and labor laws, guaranteeing precise calculations, thorough reporting, and timely filings. This meticulous approach minimizes risks and penalties, allowing you to operate confidently.
- Seamless Payroll Processing: Eliminate the administrative burden of payroll with our experts handling everything from calculations and deductions to timely submissions with Portuguese authorities. Focus your energy on driving your business forward while we ensure your employees are paid accurately and on time.
- Industry-Tailored Expertise: Our diverse team has extensive experience across various industries, enabling us to tailor solutions that perfectly align with your business needs. Leverage our specialized knowledge to gain a competitive edge in the Portuguese market.
By choosing Novo Solution, you gain more than just accounting, audit, and payroll services; you gain peace of mind knowing your financial operations are in the hands of meticulous professionals who prioritize accuracy and compliance. Let us handle the intricacies while you focus on what truly matters – propelling your business to new heights in the Portuguese market.
- Reduced Administrative Burden and Costs: Free up valuable time and resources by outsourcing your accounting, audit, and payroll needs to our team of experts. Eliminate the need for in-house accounting staff and associated costs.
- Enhanced Accuracy and Compliance: Our meticulous approach and in-depth knowledge of Portuguese regulations ensure that your financial operations are accurate, compliant, and error-free.
- Access to Expertise and Specialized Knowledge: Benefit from our team’s expertise and specialized knowledge, gaining valuable insights and guidance to optimize your financial operations.
- More Time and Resources for Core Business Activities: Delegate your financial tasks to our capable hands, allowing you to dedicate your time and resources to driving core business activities and achieving strategic goals.
- Peace of Mind: Experience the peace of mind that comes with knowing your finances are in the hands of qualified professionals, enabling you to focus on growing your business with confidence.
Ready to Streamline Your Business Operations in Portugal?
Contact Novo Solution today for a free consultation and discover how our comprehensive accounting, audit, and payroll services can help your business thrive in Portugal.
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Partner with Novo Solution for Reliable Financial Management in Portugal
NIP 1133117865
Ul. Konstruktorska 12
02-673 Warszawa, Poland