Taxpayers who have to give the state the monthly or quarterly VAT will have five extra days to do so.
Taxpayers in Portugal will have another five days to pay their monthly and quarterly taxes to Finance. The news was published by Jornal de Negócios (paid access), which cites a bill proposed by the Government in the Parliament. However, this extension does not affect the period for the submission of periodic VAT declarations, which have remained unchanged.
This proposal was well received by accountants, who will this way gain time in the fulfillment of the tax obligations of their clients.
Currently, the deadline for delivery of the monthly and quarterly VAT declarations and the payment deadline is the same.
The monthly declarations must be delivered electronically until the 10th day of the second month following the operations. For those under the quarterly scheme, which are taxpayers with a turnover of less than EUR 650 thousand in the previous year, the declaration must be submitted by the 15th of the second month following the quarter of the calendar year to which the transactions relate.
However, these time limits remain, but the payment of the tax can be made five days later.