It is established that taxable persons wishing to opt for the Cash VAT scheme shall communicate this fact to the Portuguese Tax Authority, electronically, on the Portal of Finance, only during the month of …
Some changes introduced by the General Budget for 2015 (not yet published)
VAT Cash accounting system
It is established that taxable persons wishing to opt for the Cash VAT scheme shall communicate this fact to the Portuguese Tax Authority, electronically, on the Portal of Finance, only during the month of October each year (not later than 31 October of each year, as it was before).
Taxable persons who carry out only one taxable transaction
Taxpayers who carry out only one taxable transaction in VAT (isolated act) can fulfil its invoicing obligation by issuing an invoice in the Finance Portal.
Monthly communication of invoices
The SAFT-T invoicing file that must be submitted on a monthly basis must now includethebillingprogramcertificate number.
Changes in the area of goods in circulation
It expanded the concept of “goods” for the purposes of the scheme to include those who may be subject to provision of services.
In addition, it extended the concept of “sender” to any person who, by himself or through third parties on their behalf and at their expense, place the goods available to the carrier to implement their respective transport or freight operations and also other taxable persons whose circulating goods are the subject of services carried out by them.
The global transport documents and changes to the place of destination during the transport, or the rejection of all goods transported, are now reported by insertion into the Portal of Finance, or other form of electronic transmission of data within 5 working days following the transport, and no longer through the telephone service previously provided by the Tax Authority.
Unofficial Cessation of Activity
Widens the possibility of unofficial declaration of cessation of activity by the Tax Authority in cases where the closure of the business establishment was declared by the court in insolvency proceedings, without prejudice to the fulfilment of tax obligations in tax periods where there is the occurrence of taxable operations, VAT adjustments or VAT deductions must be made.
Communication of the inventory
The 2015 State Budget Proposal foresees an additional obligation: the communication to the Tax Authority, by electronic transmission of data, of the inventory concerning the last day of the previous year.
This tax liability has to be fulfilled by taxpayers who meet all the following requirements:
- Natural or legal persons with head office in Portugal and organised accounting, who are required to draw up inventories;
- And have reported in the previous year (2014) a turnover of more than € 100,000.00;
Under the following reporting terms:
- Communication of inventories will be performed by creating a computer file for the purpose (data structure shall be defined by order of the supervising Member of the Government of the area of Finance)
- The deadline is January, 31 of each year, including the year 2014, i.e. until 31.01.2015 shall be reported the inventory for the period 2014.
Flat-rate scheme for farmers (OE)
A flat rate scheme is adopted for farmers in implementing the provisions of Articles 295 and following of Directive 2006/112 / EC of 28 November. The scheme will apply to farmers who have not reached during the previous calendar year, a turnover of more than € 10,000 or exceeding this amount, do not exceed € 12,500 and meet the requirements for inclusion in the small retailers’ scheme. Taxable persons under these arrangements may apply for a compensation calculated by applying a 6% tax on the total sales made and services rendered, provided that certain criteria are met.
Fatima Gouveia and Johannes Ruckert