Tag - Portugal

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Portugal - Mandatory Electronic Invoicing

Portugal has adopted EU Directive 2014/55/EU which states that electronic invoicing will be mandatory in the context of public procurement contracts. This will take effect on 1 January 2019.

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Portugal - Import VAT Reverse Charge

From March 1st 2018, Portugal extended its current reverse charge mechanism on imports to include all goods imported into the country. Previously this was restricted to certain goods - including cereals, wools and olive oil - specified in the Portuguese VAT legislation.

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NL/PT - ‘Generous’ tax breaks for Expats and pensioners in Europe may be axed

Tax system shake-ups mean expats living and working in the Netherlands and Portugal who have enjoyed valuable tax breaks on their earnings, may see an end to these perks.

At present, expats working in the Netherlands and Dutch expats overseas are able to earn at least 33 per cent of their salaries tax free, provided they are able to comply with a strict set of regulations.

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US & Portugal – Exchange of Information Agreement

US and Portugal have recently agreed to exchange information relating to large multinational companies. This was announced by IRS last week. Reports designed to assist tax authorities between the two countries will assist in determining which multinationals may potentially be engaged in tax avoidance through transfer pricing or otherwise.

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Pension Tax for Expats in Portugal?

Information regarding a potential pension income tax for non-habitual expats in Portugal has been leaked by the media.

It is not clear what the tax rate will be but it is likely to be between 5% and 10% for new expats registering from January 2018 under the non-habitual rule.

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Portugal - Tax Burden Shrinks

For the first time since 2012 the tax burden in Portugal shrank by 0.2 of a percentage point last year according to the National Statistics Institute (INE). In fact, its absolute nominal increase was less than that of GDP...

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Portugal - Food and beverages VAT updates

The 2017 Budget has been approved and included a number of VAT changes...

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Portugal - VAT rate reduction for restaurants

Recently it was announced that the reduced VAT rate of 13% will apply to restaurant services from 1st July 2016...

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Portugal - Denies reports of a VAT rise for farm machinery

Portugal's Ministry of Agriculture, Forestry, and Rural Development has denied reports that the value-added tax (VAT) rate on agricultural machinery will increase from 6% to 23%...

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Portugal - Could cut the VAT rate on restaurants

Portugal's Council of Ministers has approved a "responsible" draft Budget for 2016...

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