Consumption/VAT/Sales Tax in Portugal
Accounting (0) , Consumption/VAT/Sales Tax (1) , Corporate Tax (0) , International Tax Treaties (0) , Personal Tax (0)
Overview by Globlatrade.net:
- Nature of the Tax
- Imposto Sobre o Valor Acrescentado (I.V.A.) = Value Added Tax (VAT).
- Standard Rate
- Reduced Tax Rate
- Reduced VAT rates vary between 6% and 13%. They are 13% for catering, petrol and some foodstuffs. The 6% rate applies to most foodstuffs, water, publications, electricity, transport, hotels and leisure.
- Exclusion From Taxation
- Financial services and insurance, stocks of medicines, education and training are exempt from VAT.
- Method of Calculation, Declaration and Settlement
- The rate of VAT is applied to the sales price.
Settling VAT is done through declarations which vary according to the tax regime
- Other Consumption Taxes
- A vehicle tax named IUC also apply in Portugal
Any Comments About This Content? Report It to Us.
Read more See less
Find the related Portuguese companies with Kompass:
Support for your business
Contact our expert contributor
International VAT Compliance,