Fisco tightens watch on incomes over 750,000 euros – publico

 
         

                 
                 

 
 

Taxpayers with annual income over 750,000 euros or higher assets of five million euros will have a tighter monitoring of the tax administration, going to be accompanied by the Unit of Large Taxpayers (UGC).

the Government had already advanced to the extension of the powers of this service of the Tax and Customs Authority (aT), so that, in addition to large enterprises, the unit also were to monitor the surveillance of individual taxpayers higher yields. Now, a decree signed by the Secretary of State for Fiscal Affairs, Fernando Rocha Andrade, published on Tuesday in Official Gazette , has set the criteria for selecting taxpayers that the UGC should follow.

they are covered “individuals with incomes above 750,000 euros,” the taxpayers having “directly or indirectly, or are effective heritage beneficiaries, including property and rights, worth more than five million euros” . UGC, led AT João Morais Canedo, also gain the power to act in relation to taxpayers’ with consistent signs of wealth with income or property “that value.

The rules set by the Secretary of State provide also that the unit can strengthen surveillance on people or companies that even not fitting those criteria, “to be considered relevant, given its legal and economic relationship with the taxable persons” by those standards.

the role of the UGC is to ensure the assistance of these taxpayers “in voluntary compliance with their tax obligations” and look there is less tax disputes and reduce the risk of default.

Just a taxpayer fill out a those criteria to get on the radar of the UGC. At that time, it is notified by AT that the unit has made this tax monitoring, “keeping in this situation during the next four years the notification”, even though no longer meets the criteria that led him to be selected.

the UGC was born in 2012, by the hand of the previous government, but so far only followed the big companies and economic groups (with a turnover of more than EUR 200 million business, or 100 million in the case of banks and insurers and other financial institutions, or entities that pay more than EUR 20 million in taxes).

The Government took this ordinance to introduce a permanent rule in the Register of Large Taxpayers (CGC) of companies ” who are no longer integrated in constant groups of companies that register. “

in the first state budget prepared by the new Government, an amendment to the Tax Code was made (LGT) which gave more power action to UGC . A change that came after a controversial interview of former director general of the AT, José Azevedo Pereira, that this pointed to a need for the tax authorities to increase control over the high-income taxpayers who may be paying lower taxes against the income you have.

in the decree published on Tuesday, Rocha Andrade recalls the “increasing complexity” involved in operations in fiscal matters, stressing that “the majority of OECD countries have services that are exclusively concerned with tax monitoring of large taxpayers. “