Portugal live VAT invoice reporting 2019

0 comments

From 1 January 2019, Portugal will introduce a new mandatory real-time invoice reporting regime that will apply to all VAT registered companies who sell to government bodies.

This new regime will require businesses making these types of supplies, to send the invoices to the tax authorities for checking at the same time as they are issued to their customer.

It is hoped that this new invoice-reporting regime will prevent common errors on these types of invoices and also prevent VAT fraud in the country. If successful, it will then likely be extended to all business-to-business (B2B) taxpayer transactions in the future.