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  • New Portuguese SAF-T with Accounting data required in 2018

    As from 1 January 2018, Portuguese authorities will require an annual SAF-T including accounting data for corporate tax purposes. This file must be submitted to the tax authorities upon request. The new data requirements include high-level information about the accounting plan of the company. The authorities refer to this information as Taxonomy, and in addition to master data and product list of all goods and services traded in Portugal, it includes the relevant account where each combination of product-counterparty would...
    • By Marosa VAT
    • Published 01/12/2017 14:54
  • New VAT return and reverse charge import VAT in Portugal

    There is a new Portuguese VAT return form to reflect the changes on import VAT reporting. Going forward, it will be possible to delay the payment of import VAT until your VAT return is submitted. At that point you will be able to reverse charge your import VAT amounts in the return. This mechanism has a nil financial effect for businesses with full right to deduct. What are the changes in the VAT return? The new form includes two new...
    • By Marosa VAT
    • Published 08/09/2017 11:42
  • How to pay Portuguese VAT from abroad

    The Portuguese authorities published guidelines on how to make VAT payments from a foreign bank account. These guidelines area important for foreign businesses registered for VAT in Portugal. Going forward, in addition to the payment reference, you should also include your VAT number. Portugal has a unique system to pay VAT. Once you submit your VAT return, in addition to the submission receipt, you will get a payment form with a long number that you must use as reference in...
    • By Marosa EU VAT
    • Published 20/06/2017 7:11
  • Portuguese changes on excise duties

    The Portuguese authorities announced an increase on excise duties charged on diesel and a decrease on these duties on petrol. Since 1 January 2017, the applicable duties on commodity codes  2710 11 41/9 (petrol products) decreased from €568.95 to €548.9 for every 1,000 litres. Respectively, duties on diesel related products with commodity codes 2710 19 41/9 increased from €318.41 to €338.31 for every 1,000 litres. These changes are in line with a trend on increasing taxes on petrol over diesel...
    • By Marosa EU VAT
    • Published 26/02/2017 12:30
  • Portuguese import VAT and SAF-T changes

    Following the publication of the 2017 budget law in Portugal, the government will introduce postponed import VAT accounting in Portugal. This mechanism allows businesses importing goods into the country to avoid the payment of import VAT at the border. Instead, import VAT is self-accounted in the periodic VAT return under the reverse charge mechanism. It is still not clear what will be the procedure to apply for postponed import VAT accounting. We expect the forms and further details to be...
    • By Marosa EU VAT
    • Published 29/01/2017 21:47