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18 November 2020

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Portugal Providing Flexibility in the 2020/2021 Fiscal (Tax) Calendar Due to COVID-19

Portugal's State Secretary for Tax Affairs has issued Order 437/2020-XXII of 9 November, which provides adjustments to the 2020/2021 fiscal (tax) calendar to make it more flexible in light of the difficulties faces by taxpayers due to COVID-19. Some of the main adjustments are in relation to VAT return/payment deadlines as follows:

  • With respect to the monthly regime, the returns to be submitted in November and December 2020, as well as in January, February, March, April, and May 2021 can be submitted by the 20th of each month;
  • With respect to the quarterly regime, the returns to be submitted in November 2020, as well as February and May 2021 can also be submitted until the 20th of each month; and
  • With respect to payment, the payment of VAT resulting from the periodic returns referred to above can be made up to the 25th of the relevant months

The following adjustments are also provided:

  • PDF invoices will continue to be accepted until 31 March 2021, which will be considered electronic invoices for all purposes under tax legislation;
  • The submission of the statement on amounts paid to resident individuals of Portugal (Modelo 10) for 2020, including tax withheld, social security contributions, etc. will be accepted up to 25 February 2021;
  • The ability to submit the annual simplified business information return (IES) via the Finance Portal will be made available from 1 January 2021; and
  • The ability to submit the corporate income tax return (Modelo 22) for the 2020 tax period and make the respective payment will be made available on the Finance Portal from 1 March 2021, at the latest.

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