Catering companies contributed $368 million to the IRC during the pandemic

Accommodation, restaurant and similar companies contributed €368 million to the IRC during the pandemic, according to Tax Agency (AT) data from 2020 to 2022, analyzed by Jorge Barbosa, Vice President of the System's Board of Directors. of Chartered Accountants (OCC), during the conference of the Association for Reconstruction of Hotels and Similar Services in Portugal (AHRESP), which will be held in Aveiro, on 11 and 12 October.

He said: “The tax paid by all catering companies contributed to the country in 2020 with 52 million IRC, in 2021 with 95 million IRC and in 2022 with 221 million,” noting that this is one of the taxes that has the greatest impact. In a sector where tax liabilities and high corporate costs “are a concern and are seen as a major obstacle to financial sustainability and growth”.

However, the number of declarations submitted with negative results to the IRC decreased during the pandemic period in this sector, as it started at 31,608 in 2020, decreased to 25 thousand in 2021 and then decreased in 2022 to 23 thousand declarations.

“In 2022, the number of negative data in the accommodation, restaurant and similar sector amounted to 11.9% of the total Portuguese companies in all sectors,” the OCC President noted.

Conversely, companies that reported positive results were growing, starting in the year 10,500 in 2020, 17,600 in 2021 and 22,500 in 2022. “The number of companies with positive results presented corresponds to 8% of the national total,” Jorge Barbosa noted.

In contrast, the total value of positive results presented in 2020 amounted to 326 million euros, which increased in 2021 to 1,234 million and in 2022 it increased to 3,198 million euros.