For exemption purposes, only bodies that simultaneously meet the following conditions are regarded as non-profit bodies:
Para efeitos de isenção, apenas são considerados como organismos sem finalidade lucrativa os que, simultaneamente:
a) They do not under any circumstances distribute profits, and the members of their governing bodies have no direct or indirect interest, either themselves or through an intermediary, in the operating results;
a) Em caso algum distribuam lucros e os seus corpos gerentes não tenham, por si ou interposta pessoa, algum interesse directo ou indirecto nos resultados da exploração;
b) They keep accounts covering all their activities and make them available to the tax authorities, in particular to prove compliance with the preceding point;
b) Disponham de escrituração que abranja todas as suas actividades e a ponham à disposição dos serviços fiscais, designadamente para comprovação do referido na alínea anterior;
c) They charge prices approved by the public authorities or, for transactions not subject to such approval, prices lower than those charged for similar transactions by commercial undertakings subject to tax;
c) Pratiquem preços homologados pelas autoridades públicas ou, para as operações não susceptíveis de homologação, preços inferiores aos exigidos para análogas operações pelas empresas comerciais sujeitas de imposto;
d) They do not compete directly with taxable persons.
d) Não entrem em concorrência directa com sujeitos passivos do imposto.
All four conditions in points (a) to (d) are retained as cumulative (“simultaneously”), including the ban on any profit distribution and on direct competition with taxable persons.
We register foreign-owned companies for VAT, set up invoicing, file periodic returns and recapitulative statements, and check place-of-supply and exemption positions, 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.