Settling tax obligations couldn’t be easier. The Simplified Regime offers
entrepreneurs a simple, cost effective alternative to the traditional profit/loss method of accounting. With assessment based on a small fixed percentage, small independent businesses minimise record keeping, increase productivity and reduce taxes. To qualify, the annual turnover must be below € 200.000. Established in 2001, this regime has had massive adherence by entrepreneurs in Portugal over the years. Currently 99% of the self employed pay their income tax through this method.