Under the new rules, from 1 January 2013 taxable persons established in Portugal must report to the Portuguese tax authorities the details of invoices issued each month, until the 25th day of the month following the one in which the invoice was issued.
Information can be shared with the tax authorities through:
- real time electronic data communication, using electronic invoicing software
- electronic data communication, through SAF-T (PT) file – mandatory for all VATable persons obliged to generate the SAF-T file
- directly on the Portuguese tax authorities’ website
- other electronic means, to be defined by the Ministry of Finance.
In certain industries (i.e. automotive, or beauty salons) details are available on the tax authority’s website to verify if they potentially can deduct 5 percent of VAT incurred on their personal income tax to a limit of EUR250.
A new change will make mandatory from 1 May 2013 VATable persons to communicate to the tax authorities the details contained in transport documents before beginning each transport, using one of the following means:
- electronic data transmission (except when the transport document is issued in paper form)
- telephone services provided for that purpose, with the respective submission to the Portuguese tax authorities’ website until the fifth business day following the transaction date.
If the taxable person does not submit the information before the transportation, the transport document will be considered as not being issued and a penalty may be applied. However, if the invoice is also the transport document, it will not be necessary to make the submission.