All EU member states have a fixed format for their VAT numbers. In Portugal, it includes 9 digits and prefix PT, where the first digit for companies should be number 5 (e.g., PT501234567).
The standard VAT rate in Portugal is 23%, with reduced rates of 13% and 6% on certain goods and services. Some services are exempt from Portuguese VAT, such as intra-community supplies of goods and exportations.
All businesses with Mexican VAT number must submit periodic VAT reports and payments.
In the case of the late filing of VAT returns and payments, the Portuguese government prescribed the penalties as follows:
All electronic invoices in public procurement, which will be mandatory from April 2020, must contain at least the following:
From 1st January 2019, the implementation of electronic invoicing in public contracts has become mandatory. That means that the issuing, sending, receiving, and archiving of invoices in public contracts, takes place only electronically, and the authenticity of the origin and the integrity of the invoice content must be guaranteed through the electronic signature of the issuer.
Portugal adopted the UBL 2.1 format (Univeral Business Language) for electronic invoicing. Most EU and Latin American countries use this format in the context of electronic invoicing.
All VAT-registered businesses are required to issue their invoices through certified invoicing software.
This obligation is mandatory for local companies and from January 2021 for foreign companies as well.
Every transaction shall be reported within 5 days after the completed sale through the invoicing software certified by the Portuguese tax authorities (AT).
Fonoa has an invoicing software certified by the Portuguese authorities and can help you automate your invoicing process.
Date updated [May 12, 2021]
Schedule a demo to test our products, or just create an account and start automating taxes. You can also contact us to discuss any specifics around your business.