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The new deadline to report transactions in Portugal
Summary
The Portuguese parliament enacted the 2022 Budget Law, which includes many tax reforms starting on January 1st, 2023. From fiscalization perspective, certain changes are introduced regarding sending transactions to Tax Authorities. More precisely, from January 1, 2023, those businesses that communicate invoices to the Portuguese tax authority (AT) must do so by the 5th day of the following month.
Content
Let us remind you, that this communication must be made by electronic data transmission in real-time or by sending the SAF-T file (invoicing application) produced by the certified invoicing software. Currently, the deadline for invoice communication is the 12th day of the following month. Also, it is important to note that the budget law extends the obligation to report transactions to non-resident entities that are VAT registered in Portugal. Previously, only businesses with a local presence were in scope. Now, all businesses with a VAT registration are obligated to report transactions.
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