Portugal:
Entry Into Force Of VAT
10 November 2020
Ana Bruno & Associados Sociedade de Advogados SPRL
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The entry into force of this Value Added Tax, already postponed
twice, came into force on 1 October 2020.
This tax replaces the Consumer Tax, starting in the country with
a single rate of 14% for all major taxpayers, large public
companies and banks. In this way, it is possible to collect more
revenue and is also important for national and foreign investment,
since it is more favorable than the current Consumer Tax,
eliminating double taxation and reducing fraud and tax evasion.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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