VAT News

Portugal-Import VAT deferment

In the recently announced 2017 Portuguese budget, it was announced that from September 2017, business registered for Portuguese VAT will be able to account for import VAT at the time of submission of the periodic VAT return.

Previously, import VAT had to be paid at the time the goods entered Portugal from a non-EU destination, with input tax recovery effected upon the VAT return. This change means that businesses will declare and recover import VAT at the same time.

The change will only apply to certain imported goods, and the business must have a good compliance record to use this method.

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