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Madeira: Domestic Corporate Taxation

Filing Requirements and Payment of Tax

The tax year is the calendar year, ending December 31. Tax is assessed on the basis of the preceding calendar year, on the financial year of the company that ended in the previous calendar year.

Companies make three equal payments of tax in the year of assessment, in July, September and December, based on the previous year's tax payment. A final, balancing, payment must be made along with the submission of the corporate tax return by the end of the following May. These timings are different for companies with year-end dates other than on December 31.

Certain companies which have reported tax losses in previous years have been required to make advance payments of corporate income tax from 1999 onwards.

 

 

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