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Portugal import VAT reverse charge Mar 2018

  • EU VAT
  • 06 March 2018 | Richard Asquith

Portugal import VAT reverse charge Mar 2018

Portugal has extended the import VAT reverse charge relief to all goods from 1 March 2018. Similar postponed import VAT accounting relief are popular across the EU.

The regime was introduced for a restricted list of goods, including cereals, wools and olive oil, on 1 September 2017. It enables approved companies to postpone the cash payment due for import of goods into Portugal. Instead, they may declare the transaction in their next VAT return against any sales VAT – thus avoiding any cash payments.

Companies must apply for the relief through the tax authority’s website.

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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.