Portugal VAT changes
- 27 February 2016 | Richard Asquith
Portugal is proposing a range of VAT changes to the VAT Law, Codigo do Imposto sober o Valor Acrecentado.
- Simplifications to the low-value invoice disclosure requirements. The simplifications are available for invoices below the value of €1,000
- VAT on bread will be cut to the reduced rate of 6%
- The VAT rate on restaurants and café services will be cut from the standard rate of 23% to the reduced rate of 13%
- Reduced requirements for VAT registrations
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.