- The Portuguese Tax and Customs Authority issued Circular No. 25056 on January 2
- The circular clarifies changes to the VAT Code effective for 2025
- Bicycles, whether motorized or not, are not considered tourist vehicles and qualify for VAT deductions
- A reduced VAT rate is introduced for infant and young children food products, including follow-on formulas and medical foods
- Reduced VAT rates are extended to tickets for certain cultural events unless already exempt
- VAT refunds are available to public interest entities for purchases related to defense, security, or relief
- Temporary exemptions for specific products and services are extended until December 31
- PDF invoices will be recognized as electronic invoices for tax purposes until December 31
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
