According to the Report Paying Taxes 2008, Portugal is one of the few countries that have reduced in 2007 its corporate income tax and where two taxes on profit can be paid together. This puts Portugal with regard to number of tax payments on rank 10 internationally and on 3rd place in the EU. Portugal as well simplified its tax system most effectively through introducing an electronic filling method which ensures that Portugal is in the top 10 on the tax payments indicator.
Paying Taxes 2008 is the second report in an annual series on tax systems, elaborated by the World Bank, IFC – International Finance Corporation e PricewaterhouseCoopers. It looks at the relative ease of paying taxes in 178 countries worldwide. The report offers an opportunity to look at and compare tax regimes and can help governments and industry to ensure that fiscal systems are not only effective tools for tax collection but are also efficient for business. Key points of the report include where in the world is it easiest to pay taxes; how long do companies spend complying with tax regulation, what is the average total tax rate a company pays and how many tax payments does an average company make.