For the regularization of tax debt, Portugal’s Council of Ministers has approved an “exceptional and temporary regime”.
For those taxpayers who choose to regularize their tax debts by 20 December 2013, the regime accords exemption from the payment of default interest, compensatory interest, and administrative fees.
The provisions also reduce the relevant fine to 10 percent, in cases where the legal tax debt recovery period ended on August 31.
From 2014, individuals that commit a crime of tax fraud will face trial and the court will determine the outcome.
