Portugal Introduces VAT Changes and Postpones the SAF-T Accounting Files

February 9, 2023

Portugal introduced changes to its VAT Code in the State Budget for 2023 and postponed the deadline to submit SAF-T Accounting files. 

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Timeline

The changes in the Portuguese VAT code are effective from January 1st, 2023. 

With respect to the SAF-T Accounting file, instead of the beginning of 2024, the declaration of the file will be mandatory only from the beginning of 2025. 

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Impact

The changes to the Portuguese VAT Code are as follows: 

  • Change to the VAT return deadline and payment deadline for June and Q2,¬† if the taxpayer follows a monthly or quarterly VAT period. For these two periods, the declaration deadline is set to 20 September, and the payment deadline is set to 25 September. This change also applies to the upcoming years.
  • Change in applying the reduced VAT rate of 6% for certain goods and services.¬†
  • Change in the turnover threshold for VAT registration exemption under the simplified regime from EUR 12,500 to EUR 13,500 in 2023. The threshold will be further increased to EUR 14,500 in 2024 and EUR 15,000 in 2025.

On top of the above, regarding the SAF-T Accounting file, the Portuguese Tax Authority has postponed the necessary submission of the file from 2024, about data from 2023,  to 2025, about data from 2024.

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Aleksandar Delińá
Tax Researcher

Aleksandar Delic is a Tax Research Analyst at Fonoa, and previously worked as a Business Analyst in New Black BV’s Compliance department. Based in Novi Sad in the Republic of Serbia, Aleksandar joined Fonoa for the opportunity to work with a team of highly skilled TaxTech experts and make a real impact on the industry. Fun fact: If he could open any kind of business, it would be a pizzeria that serves delicious pies using only the freshest ingredients imported directly from Italy. Mangia!