Portugal extends SAF-T 2018

December 15th, 2017

From 1 January 2018, all Portuguese businesses will be required to be able to produce on-demand an annual accounting submission in SAF-T format.  This information will support Corporate Tax audits and computations. This is in addition to the existing monthly SAF-T submission listing all sales and purchase invoices for VAT purposes. Standard Audit File for …


Portugal SAF-T update

June 15th, 2017

Portugal has issued an update SAF-T standard.  It contains two changes: The XSD schema for invoices and delivery notes The Taxonomies which identify the codes with the correspondence tables to identify accounts The Standard Audit File for Tax was introduced into Portugal in 2008, and become mandatory on a monthly basis in 2013.


Portugal 2017 VAT changes

December 21st, 2016

The 2017 Budget has been approved by Parliament. This included a number of VAT changes applicable from 1 January 2017. These included: Introduction of VAT deferment (via reverse charge) on import VAT for a range of goods (Sept 2017) Reclassification to the reduced 13% VAT rate of some basic foods A proposal to apply the …


Portugal simplified invoices

August 12th, 2016

Portugal has granted simplified VAT invoice requirements for small businesses. Small retailers now only need to record the price of goods on invoices rather that gross, VAT and net price details.


Portugal VAT reclaim changes

July 15th, 2016

Businesses established outside of the EU will benefit from a new VAT reclaim system in Portugal. Where non-EU companies incur Portuguese VAT, and are not providing taxable supplies requiring a non-resident VAT registration, they may reclaim the VAT through a 13th Directive reclaim. This system works across all 28 EU member states. 13th Directive claims …


Portugal restaurant VAT cut to 13%

July 1st, 2016

Portugal has granted its restaurant and café sector and important subsidy with a reduction in the VAT rate for their food services from 23% to 10% from 1 July 2016.  The rate will drop to 9% and 12% for Azores and Madeira, respectively. Portugal raised its restaurant rate to the standard rate of 23% in …


Portugal cash prizes for VAT invoices

April 12th, 2016

Portugal is to amend a controversial scheme whereby customers can win state cash prizes based on VAT invoices from their suppliers. Each invoice has a unique number, which is then used in a weekly national draw. The idea is to encourage customers to demand full VAT invoices, and so force proper VAT declarations by the …


Portugal lowers restaurant VAT to 13%

March 18th, 2016

The Portuguese parliament has ratified a proposal to lower the VAT rate on restaurant services from 23% to 13%. The implementation date will be 1 April 2016. Ireland has claimed its policy of lowering VAT from 13.5% to 9% in 2012 was very successful at boosting its key tourism sector – it is estimated that …