Portugal live VAT invoice reporting 2019

September 4th, 2018

Portugal is to take the first step towards live VAT invoice reporting from 1 January 2019. From this date, all B2G (business to government bodies) supplies must be performed with an electronic invoice which will be submitted directly to the tax authorities. This will operate through the existing public finance portal, Fatura Eletrónica na Administração …


VAT Reporting update 18.4.1

May 1st, 2018

Overview This release is a maintenance release of the VAT Reporting application for the month April. It includes changes to reports, modifications and bug fixes. Main changes in Reports Spain – Immediate Filing (SII) We have started to implement changes to support filing of SII V1.1, which will be available from 1st July 2018. Please …

United Kingdom

Digitisation of VAT Reporting

April 5th, 2018

European countries are increasingly demanding detailed electronic VAT transactional reporting from businesses to help them efficiently track tax due and reduce significant tax evasion. This includes: EU SAF-T; Making Tax Digital in the UK; live invoice reporting in Spain, Hungary and Italy; and Control Statements. Many countries have now introduced voluntary and mandatory transaction reporting …


Portuguese SAF-T

April 4th, 2018

Portugal was the first country to introduce Standard Audit File for Tax (SAF-T) on 1 January 2008. Initially, there was a requirement for VAT registered businesses to be able to extract and submit a SAF-T file to the tax authorities. Portuguese SAF-T data types General Ledger and entries Supplier master data Product master data Tax …


Portugal import VAT reverse charge Mar 2018

March 6th, 2018

Portugal has extended the import VAT reverse charge relief to all goods from 1 March 2018. Similar postponed import VAT accounting relief are popular across the EU. The regime was introduced for a restricted list of goods, including cereals, wools and olive oil, on 1 September 2017. It enables approved companies to postpone the cash …


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 …