- Portugal’s tax authorities issued updated guidance on credit notes and VAT adjustments: credit notes are for changes to taxable value or VAT, while formal invoice errors must be fixed by canceling and reissuing the invoice.
- Accepted proof that a buyer was informed of a VAT correction can include electronic records, signed documents, portal logs, and correspondence; deemed acceptance clauses are not enough.
- A new periodic VAT return template was approved, with some changes effective from 1 July 2026, including reporting for the new VAT group regime and housing-related VAT adjustments; most other changes start from VAT periods on or after 1 July 2027.
- Taxpayers may claim favorable VAT adjustments for certain housing projects under the reduced rate rules, within the 4-year limitation period and subject to legal conditions.
- A transitional rule lets billing software keep using certain invoice replacement procedures until 31 December 2026.
Source: regfollower.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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