Newsletter #3

[06/01/2024]

Dear Customers and Friends, 

We draw your attention to the following topics, which documentation can be consulted in the respective attachments below. 

We appreciate all the feedback and messages you have sent us. 

If you have any questions or need more information, do not hesitate to get in touch. 

Best regards, 

#1 - Physical verification of inventories  

Own Source - Marques Pereira & Edgar Torrão, S.R.O.C., Lda. 

Clarifications and guidance on inventory counts, control/clearance of existing differences and evidence needed. 

#2 - Inventory and invoices in PDF in 2024 and method of paying taxes by companies  

Law No. 82/2023, of December 29, 2023 (OE2024/State Budget) 

1) Please note that OE2024 has renewed the determination that PDF invoices are accepted and are considered electronic invoices for the year 2024. 

2) The submission of the SAF-T (PT) relating to accounting will only be submitted in 2025 and in the following years, applicable to the periods of 2024 and following years; 

3) Payment of tax installments by legal entities will now be exclusively made using electronic payment methods (LGT, art. 40). 

#3 - Fixed assets writte-offs/Disposals  

Judgment of the Supreme Administrative Court, handed down in case no. 0772/15.8BEBRG, of May 10, 2023 

Clarifications on impairment losses arising from exceptional devaluations in tangible fixed assets. 

The following resulted from the ruling: 

1) Impairment losses that consist of exceptional devaluations in tangible fixed assets and that lead to asset losses in the same tax period can only be deducted for tax purposes if they are accepted by the tax administration. 

2) The lack of prior communication and subsequent monitoring by the tax administration of the loss of the asset prevents its recognition and, consequently, the net tax value of the asset being accepted as an expense for the period. 

#4 - Health insurance and its impacts on Corporate Income Tax (IRC)  AT Binding Information No. 24493, dated 05/03/2023 

Binding information from AT with the conditions for tax deductibility in health insurance IRC.