Portugal approves VAT changes on bad debts
Sat 29th Dec 2012
The 2013 Portuguese state budget has been approved, which contains a number of Portuguese VAT matters.
- The use of simplified invoices for small transactions, reflecting the EU’s VAT Invoice Directive
- Extensions to VAT exemptions and the right to deduct VAT
- Shortened period on the timeline for the refund of VAT paid on bad debts
- Changes to VAT compliance and thresholds for energy, agricultural and precious metal trading