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Portugal cash prizes for VAT invoices

  • VAT
  • 11 April 2016 | Richard Asquith

Portugal cash prizes for VAT invoices

Portugal is to amend a controversial scheme whereby customers can win state cash prizes based on VAT invoices from their suppliers. Each invoice has a unique number, which is then used in a weekly national draw.

The idea is to encourage customers to demand full VAT invoices, and so force proper VAT declarations by the sellers.

The prizes will no longer be in cash. Instead, Portuguese Treasury Bonds will be won by the holders of the drawn invoices.


VP Global Indirect Tax
Richard Asquith
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.