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viaCTT electronic post box

The “AT” (Tax Office) wants to assure that all entrepreneurs receive their correspondence in a secure and unquestionable manner. To this end. all Sole Traders registered for VAT are now obliged to have an electronic post box with The viaCTT account must be activated within 30 days after VAT registration. The rule applies to sole traders once they have reached an income of over than 10.000€ in the preceding year. Fines for non-compliance go from €50 to €250.


Additional “IMI” assessment

Property Owners as well as the Tax Office may request an additional “IMI” (Municipal Property Tax) evaluation if there is disagreement over the original set values. However, any such challenge does not suspend the payment of the first evaluation.

Finanças investigates Local Lodging irregularities

Recent “AT” inspections of Local Lodging establishments detected 1,800 irregularities according to the Jornal de Notícias. These cases had discrepancies in declared income and will now be subject to increased monitoring by the tax authorities. This investigation of holiday lets focused on 12,000 taxpayers, with the majority (10,200) with no inconsistencies.

Controls on undeclared rental income

Under a plan to clamp down on illegal renting, water, electricity and gas companies will be required to report to Finanças consumption by holders of the respective contracts. The information is to be provided to Finance by these service providers electronically each quarter in order to make automatic verifications of property owners and respective tenants.NALLE logo-red 30%

Tax Number required for Deductions in 2015

Under the new Budget rules, Tax and Customs Authority (AT)NALLE logo-red 30% officials alert that, as of January 2015, only invoices that include an individual’s tax number (NIB) will be eligible for tax deductions on personal income tax expenses.

This applies also to pharmacy receipts.

Tax payers can claim up to 1000€ in medical expenses (doctors’ visits, lab, glasses, pharmacy bills), and receive a tax credit of  15%. Keep your tax number at hand!

Tax Inspectors investigate Owners with more than a house

Finanças is scrutinizing real estate data. Inspectors are contacting directlyNALLE logo-red 30% those who have homes to rent.  By cross-checking data such as water and electricity consumption, they determine residential occupancy and verify appropriate tax declarations.

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