01.20.23
Reduction of VAT on purchase of bicycles
Increasingly, we are seeing countries advance environmental and health agendas via the deployment of fiscal measures. Such tax measures, ubiquitous in 2022, are expected to be equally commonplace in 2023, as awareness of ecological and related matters increases.
Via its 2023 State Budget, Portugal is introducing a reduction in VAT on the purchase of bicycles. In doing so, Portugal becomes the first EU country to enact such a measure. From 1 January 2023, this will be set at the lowest VAT rate possible in Portugal, at 6%.
Tungsten supports all valid VAT rates in Portugal as part of its solution, including the 6% rate. We are also conscious of the countries intrinsically linking further societal agendas which extend beyond the economy in their tax agendas, and we are investigating how we can integrate these as part of our solution.
Browse Portugal updates
Small Medium Enterprise (SME) B2G e-invoicing – further delay
- Mandate information
VAT exemption for specific food product imports and transfers and food products
- VAT/G(S)ST rate information
Broadening of goods subject to reduced rate
- VAT/G(S)ST rate information
Guidance relating to single-use packaging tax
- Other applicable taxes
Revisions to Portuguese tax code
- Country updates
Reduction of VAT on purchase of bicycles
- VAT/G(S)ST rate information
VAT exemption codes updated
- Country updates
Reduction in VAT for gas and electricity
- VAT/G(S)ST rate information
B2G e-invoicing delay for small / medium enterprises
- Mandate information
SAF-T obligation extended to non-established businesses
- Country updates
Extension of certain VAT rates
- VAT/G(S)ST rate information
Requirement to accept the PDF as an e-invoice
- Country updates
Requirement for e-signatures on PDF invoices
- Country updates
Option to use PDF e-invoices extended to 31 December 2021
- Country updates
New standard rate of 16% in the Azores
- VAT/G(S)ST rate information
Non-resident billing software certification from 1 July 2021
- Country updates