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euroFINESCO publications continue to expandThe euroFINESCO information distributions reached a new landmark with the release of nº 400. The article addresses the newly updated EU Blacklist that highlights the growing rift between the EU...Read more
Americans compensate for the loss of British touristsLast year, fewer British holidaymakers chose Portugal as a tourist destination, less 111,667 than in 2017. Despite the drop, the overall number of foreign tourists grew by 0.4% last year...Read more
Americans compensate for the loss of British touristsLast year, fewer British holidaymakers chose Portugal as a tourist destination, less 111,667 than in 2017. Despite the drop, the overall number of foreign tourists grew by 0.4% last year...Read more
Residency - Highly Qualified Professional VisaThe Highly Qualified Professional Visa in Portugal targets foreigners who are not nationals of the EU, EEA and Switzerland and who have been admitted 1) as students to higher education...Read more
Existing rental contracts without immediate IRS discountLandlords with a lease in place for several years will only be able to take advantage of the tax breaks created in the new rental law after contract renewal. This...Read more
Higher Education Expenses in 2019Parents with children studying in universities in the interior of the country can receive a 40% tax credit in 2019 for expenses up to €1,000. This tax break is an...Read more
Tax burden in Portugal up in 2017Despite an increase of three tenths, Portuguese taxation remained below the European average last year. In Portugal, the weight of taxes reached 40.2% of GDP and in the Euro Zone...Read more
Stamp Duty due on annual rent increasesIf you are a landlord and, during the term of a lease, increase your tenant's rent by the amount of inflation (the maximum allowed by law), you must inform Finanças...Read more
Portugal elected again “best holiday destination in the world”For the second consecutive year, Portugal has been recognised as the top tourist destination by the World Travel Awards. At the same time, the Conrad was voted the best luxury...Read more

Following the automatic IRS, the “AT” advances to automate VAT in three phases.

The Tax and Customs Authority has taken the first step in automating the VAT declaration, making available pre-filling of certain amounts in the fields related to "transfers of goods and services" with tax paid and those corresponding to "Tax in favour of the State".

To this purpose, pre-filling uses the data from invoices and receipts issued via the “AT” website. As with automatic IRS, taxpayers can change pre-filled fields if they detect any inaccuracies or mistakes. This is the first phase of a project that will expand in 2019.

The Ministry of Finance also revealed that throughout this coming year, the project will take another step, being extended to other taxable persons, not only those who have issued invoices or invoices-receipts, including the e-Invoice system data.

There will also be an extension of pre-filled fields to deductible VAT. A third phase is planned, which is under study, that aims at automating procedures.

Minister Mário Centeno pointed out that the “AT” will use all the information it has about each taxpayer to pre-fill their VAT declaration and thereby save taxpayers time and effort to check the invoices issued and the costs incurred and their deductions. He also announced a review of the e-Taxfree system, which was initiated a year ago. This new system allows foreign nationals from outside the European Union to validate invoices made in Portugal and request a VAT refund without wasting time in queues.