ARTICLE · 28 MARCH 1995

Tax Summary 1995 - Portugal

KPMG Peat Marwick

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PortugalTax

I Company Taxation

1. Corporate Income Tax (IRC)
Resident companies and non-resident companies with permanent establishments (note 1).

Type of company/activity				Rate (%)

(i) Normal rate						36
(ii) Companies who do not exercise as their 
principal activity a commercial industrial or 
agricultural trade					20
(iii) Property investment companies (SGII)		25
(iv) Private schools					20
(v) Investment funds					-
(vi) Pension funds					Exempt
(vii) Personal retirement savings 
fund companies (note 4)					Exempt
(vii) Venture capital and regional 
development companies					Exempt in the first
							five years (note 2)
(ix) Certain companies in Madeira 
and Santa Maria, Azores					Exempt (note 5)

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