VATLive > Blog > EU VAT > Portugal extends SAF-T 2018 - Avalara

Portugal extends SAF-T 2018

  • EU VAT
  • Dec 15, 2017 | Richard Asquith

Portugal extends SAF-T 2018

From 1 January 2018, all Portuguese businesses will be required to be able to produce on-demand an annual accounting submission in SAF-T format.  This information will support Corporate Tax audits and computations.

This is in addition to the existing monthly SAF-T submission listing all sales and purchase invoices for VAT purposes.

Standard Audit File for Tax (SAF-T) was developed by the Organisation for Economic Co-operation and Development as a schema for exchanging information between companies and worldwide tax authorities. It's aims data such as: sales & purchase invoices; stocks; fixed assets; bank accounts; general ledgers; and customer and supplier master data.  Portugal was the first country to adopt the regime for VAT, and other countries have followed, including: Luxembourg; France; Austria; Poland; Lithuania. Norway plans to adopt the reporting system in 2018.

Latest Portiguese news
Portugal live VAT invoice reporting 2019
September 4, 2018

Portugal is to take the first step towards live VAT invoice reporting from 1 January 2019. From this date, all B2G (business to government bodies)...
VAT Reporting update 18.4.1
May 1, 2018

Overview This release is a maintenance release of the VAT Reporting application for the month April. It includes changes to reports, modifications and bug fixes....
Digitisation of VAT Reporting
April 5, 2018

European countries are increasingly demanding detailed electronic VAT transactional reporting from businesses to help them efficiently track tax due and reduce significant tax evasion. This...

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.