VATupdate

QR Code: challenge or opportunity for financial processes?

The QR Code allows you to leverage the digital transformation of accounting/fiscal processes with regard to the treatment/processing of documents.

Following the State Budget for 2021 and more specifically with effect from January 2022, there is a requirement to include two new elements in fiscally relevant documents.

Thus, it is mandatory to include the so-called QR Code and ATCUD (unique document code) in documents such as invoices, credit notes, receipts, among others.

The QR Code can be defined as a two-dimensional bar code that will allow taxpayers to communicate fiscally relevant documents and whose technical specifications, already defined and shared by the Tax Authority (AT), allow it to include practically all the relevant information in the document.

The ATCUD, which will also be an integral part of the QR Code, consists of a validation code for the billing series and will be assigned by the AT a priori.

Source easytax

For all other newsitems on QR/ATCUD code in Portugal, click HERE

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