Portugal approves VAT changes on bad debts
- European News
- 27 December 2012 | Richard Asquith
The 2013 Portuguese state budget has been approved, which contains a number of Portuguese VAT matters.
- The use of simplified invoices for small transactions, reflecting the EU’s VAT Invoice Directive
- Extensions to VAT exemptions and the right to deduct VAT
- Shortened period on the timeline for the refund of VAT paid on bad debts
- Changes to VAT compliance and thresholds for energy, agricultural and precious metal trading
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.