Portuguese taxpayers who have to pay the IRS settlement have until this Monday, August 31, to make the payment. This is also the deadline for the Tax and Customs Authority to process refunds for those who submitted their declaration within the normal campaign calendar and have not yet received the transfer.
The general rule establishes that IRS must be paid by August 31, if no installment payments have been requested. From that date onwards, interest on late payments begins to accrue on the amount owed and may result in coercive collection through tax enforcement proceedings. Taxpayers may also request installment payments until September 15, through the Finance Portal or at the tax service corresponding to their fiscal address.
The Ministry of Finance recently alerted to this deadline through a social media post, reminding those who have tax to pay to check their status on the Finance Portal. The IRS settlement occurs because throughout the year workers pay tax in advance through withholding tax, and when there is an amount to pay it means there were not sufficient withholdings.
The settlement notice, which was issued by July 31, contains all the necessary data to make the payment. In the case where a replacement declaration still needs to be submitted, taxpayers risk aggravated penalties, as warned by Deco — Portuguese Association for Consumer Defense, with the fine amount depending on the damage caused.
