Profits made by non-resident legal persons and other entities engaged in maritime and air navigation from the operation of ships or aircraft are exempt from IRC, provided that a reciprocal and equivalent exemption is granted to resident undertakings of the same nature and that such reciprocity is recognised by the member of the Government responsible for finance in an order (despacho) published in the Diário da República.
São isentos de IRC os lucros realizados pelas pessoas coletivas e outras entidades de navegação marítima e aérea não residentes provenientes da exploração de navios ou aeronaves, desde que isenção recíproca e equivalente seja concedida às empresas residentes da mesma natureza e essa reciprocidade seja reconhecida pelo membro do Governo responsável pela área das finanças, em despacho publicado no Diário da República.
The restriction to non-resident entities and to profits from operating ships or aircraft, the reciprocity condition and the requirement of recognition by an order of the member of the Government responsible for finance published in the Diário da República are retained.
We prepare IRC returns, check participation-exemption, transfer-pricing and interest-limitation positions, and structure Portuguese holdings and branches, in English. A written answer and a fixed quote within one working day.
Unofficial English translation prepared by BCA Portugal for reference. Only the Portuguese text published in the Diário da República has legal force. Editorial notes are ours and are not part of the statute.