Law No. 3/2022, creating a regime for the payment of taxes through the offset of tax credits and debts, at the taxpayer's initiative, was published on January 4.
 
We highlight below the main features of this regime:

• Taxes covered: IRS (Personal Income Tax); IRC (Corporate Income Tax); IVA (Value Added Tax); IEC's (Excise Duties); IMI (Annual Property Tax); AIMI (Additional Annual Property Tax); IMT (Property Transfer Tax); IS (Stamp duty); IUC (Single Road Tax); IUV (Single Car Tax).

• Applicable upon request: the taxpayer shall request online the payment of the tax obligations through offset, indicating the tax credits and debts subject to such offset. This application may be submitted from the moment of the assessment of the tax and until the extinction of the tax enforcement process.

• The maximum deadline for response by the Tax Authority is 10 (ten) days, the request being considered tacitly deferred after that period.

• The offset of tax credits and debts may be total or partial.

• The ineffectiveness of the tax offset can be declared by means of a legal action brought by the Tax Authority, in the event that the Tax Authority considers that the relevant requisites have not been met.

This law enters into force on July 1, 2022.

For more information on this Tax Alert please contact:
[email protected]