For Portugal, tax authorities won’t settle for invoices that are prepared in a Microsoft Word or Excel format. We understand that people like to be independent by adding all your invoices to a Microsoft Word or Excel document, which may work for some countries; but not Portugal. Using an accountant in Portugal will save you a lot of stress preparing invoices; and we can help with that process. This way, you’ll be able to focus on making the most of your business, without the additional burden of drafting invoices.
Why Do I Need Invoicing Software?
It’s just this simple – Portuguese invoicing software is a legal requirement.
The tax authorities will only accept your invoicing information if it’s generated using a certified program; it is just how employers are expected to operate. Using invoicing software will ensure that all information will be filed correctly, ready for submission on the 12th of every month; and it just makes everything look a lot better since it is all in one place.
Can I Use the Software Myself?
Yes, you can locate and use certified software on your own, and the tax authority provides a comprehensive list on their website of all the service providers that you can use.
If you choose to operate the software on your own, RHJ Accountants are happy to review all your invoicing information to make sure it is correct; before submitting to the tax authority. The reason we are suggesting this is because of the various laws and regulations that apply; depending on what services you are selling and who you are selling to. Be sure to enter in the proper invoicing information to avoid getting into trouble with the authorities; who may request you to provide the 23% VAT if it’s missed. This can be a risk; as you could end up being out of a lot of money if you don’t have enough to cover the missing tax.
Why Should I Use an Accountant to Help?
So, we’ve already mentioned that the tax authorities require individuals to follow lots of different rules and regulations before submitting their invoices. Our team of accountants in Portugal are used to how the tax authorities want information to be submitted; and we can help you avoid using software packages that are incompatible.
When RHJ Accountants handle the work on your behalf, we will send the invoices for you, get the relevant information from the client & input all the required information into the invoicing software knowing that the tax authorities will accept it.
The Rules of Invoicing
When it comes to invoicing in Portugal, here are a few things you need to know. First, all invoices must be written in Portuguese. Second, you must include your VAT number on all invoices & the VAT number of the selling entity. Third, you must include the date of the invoice, the name and address of the customer; and a description of the services rendered. Fourth, the total amount due must be clearly stated on the invoice. Last but not least, make sure you check, check, and double check all the information you have provided!
Final Tips
The tax authorities recently changed their rules; and in 2023 it will be mandatory to submit invoices on the 5th of each month.
How RHJ Accountants Can Help
We recognise more than ever that individuals and businesses from the UK and other countries may be globally mobile. We aim to make you aware of the tax-efficient opportunities, available tax relief and structure finances for life at home and abroad.
Our international team of specialists operate from offices in the UK and Portugal. We work together synergistically to provide tax efficient solutions to our clients to help them grow their business whilst keeping tax liabilities to a minimum.
Get in touch with us today to find out more, or to make use of our services.
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