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Electronic Communication of Inventories

Are you ready to meet the Electronic Communication of Inventory requirement to the Tax Authority (AT) ? The deadline is January 31st. Find out what's changing.

With the approval of the State Budget for 2015 (insert the following link associated with the words state budget) the Electronic Communication of Inventory to the Tax and Customs Authority (AT) in the form of a computer file came into force. Said communication must be made by January 31st 2015, inventorying existing stocks as at the date of last day of the previous financial year.

Ensure strict compliance with the new tax requirement with PRIMAVERA. We make available the means required to make the Electronic Communication of Inventory and the respective submission at the AT portal in a manner which is simple and compliant with the established standards.
Maintain the focus on your business. PRIMAVERA solutions are certified, ensuring permanent, first-rate compliance with all legal and fiscal obligations. 

Which companies are required to communicate the inventory?
The new directive, the upshot of the alteration to Statute Law no.198 enacted on August 24th 2012, applies to individuals or corporate bodies that have registered offices, a stable establishment or tax domicile in Portuguese territory, that have organised accounting, that are required to draw up an inventory and whose turnover for the financial year prior to that said communication does not exceed 100 thousand Euros.

What is the electronic communication deadline?
The entities covered by this obligation must make an Electronic Communication of Inventories to AT by January 31st 2015. As regards those entities that adopt a taxation period which is different from the calendar year, the communication must be made by the end of the first month subsequent to the termination of said period.

What must be communicated?
The inventory pertaining to the last day of the financial year/previous period must be communicated.

How is it communicated?
The communication of inventories must derive from the electronic transmission of data by means of submission at the AT portal of a file in xml or csv format. 
Check here examples of these formats as well as the procedures defined by AT for this communication.

Are there any exceptions to the inventory communication requirement?
Yes, the aforementioned parties whose turnover for the financial year prior to said communication does not exceed 100 thousand Euros are not required to meet this obligation.