vlag PT

In Portugal, in addition to the existing monthly SAF-T submission listing of all sales invoices for VAT purposes, businesses are required to provide annual accounting file in SAF-T format. According to a recent announcement from the Portuguese tax authorities, Despacho n.º 45/2018-XXI from 2 February 2018, the obligation to provide an annual file for completion of IES is delayed with one year.

The annual accounting SAF-T obligation for IES will start now in 2019 and will cover the accounting period of 2018 or earlier years. The data requested information will be used to improve and perform more efficient and effective corporate tax audits.
  
An essential feature of excellent tax risk management as data of 2017 or earlier can be assessed when the taxpayer has installed our SAP SAF-T PT add-on in SAP. That might reduce any tax risks in 2018 data.

SAF-T-Portugal has been designed to allow Portuguese tax authorities to have access to data in an accessible, standard format that would increase the effectiveness of the tax audit. The legal tax requirements of the file are in line with the obligation of using certified billing and logistics software that prevent changes to documents already issued.

Two separate files are mandatory obligation for Portuguese SAF-T purposes:

  1. Monthly SAF-T file including invoicing data and transactional data about sales and purchases made in Portugal. It contains as well master data and a list of products. Submission is mandatory on a monthly basis together with the VAT return.

  2. The annual SAF-T file with accounting information must be produced yearly and upon request of the authorities. The inclusion of taxonomies in the structure of SAF-T (PT) aims to simplify the completion of the IES Informação Empresarial Simplificada.

We sell an integrated SAP add-on solution and a MacroExcel solution to meet these Portuguese tax obligations. Both are operational at multinationals.


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Written by Richard Cornelisse
 Richard LinkedIn

Richard advises multinational businesses in improving the efficiency and effectiveness of their Indirect Tax Function and Tax Control Framework.

He started his career as a manager at Arthur Andersen and then became a partner in EY where I led the indirect tax performance team for Netherlands and Belgium. Currently, he is a senior managing director of KEY Group.

Richard has over 20 years’ experience advising clients on international VAT issues. He is specialized in the tax aspects of financial transformations, shared service center migration, and post-merger integration work. Richard is also somewhat of a mentor, giving back to the profession. If you are interested in conversation and discussion, please feel free to contact him.