AL business: tax declaration
Sep 10th 2020, 3:40 pm
#1
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Location: Algarve
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AL business: tax declaration
Hi,
We started and AL business in May 2020.
Our first guests came in July and up to now our gross earning were only 400 EUR.
We saw on the Portal Financas that we received a fine because we did not file a "declaracao periodica" for IVA???????
Our income out of the AL will be max 1500 EUR per year.
Does anyone know how to do this? Has this form a name or number?
We are not in Portugal at the moment.
Thanks
We started and AL business in May 2020.
Our first guests came in July and up to now our gross earning were only 400 EUR.
We saw on the Portal Financas that we received a fine because we did not file a "declaracao periodica" for IVA???????
Our income out of the AL will be max 1500 EUR per year.
Does anyone know how to do this? Has this form a name or number?
We are not in Portugal at the moment.
Thanks
Last edited by Pilou; Sep 10th 2020 at 3:43 pm.
Sep 10th 2020, 4:38 pm
#2
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Posts: 458
Re: AL business: tax declaration
Err, you have to declare VAT periodical to Financas, either monthly or quarterly.
Some basic info can be found here (not Financas source), also include instructions how on portal:
https://www.vendus.pt/blog/declaraca...omo-preencher/
Some basic info can be found here (not Financas source), also include instructions how on portal:
https://www.vendus.pt/blog/declaraca...omo-preencher/
Sep 10th 2020, 5:01 pm
#3
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Joined: Jul 2017
Location: Algarve
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Re: AL business: tax declaration
Err, you have to declare VAT periodical to Financas, either monthly or quarterly.
Some basic info can be found here (not Financas source), also include instructions how on portal:
https://www.vendus.pt/blog/declaraca...omo-preencher/
Some basic info can be found here (not Financas source), also include instructions how on portal:
https://www.vendus.pt/blog/declaraca...omo-preencher/
We thought this was only necessary when the gross earnings would be 10.000 EUR or more.
Sep 10th 2020, 7:59 pm
#4
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Posts: 1,835
Re: AL business: tax declaration
See also https://iva.portaldasfinancas.gov.pt/dpiva/portal for the declaração periódica.
Sep 10th 2020, 8:46 pm
#5
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Re: AL business: tax declaration
We knew we will never earn more than 3000 EUR gross a year with our AL. So we never estimated our earnings higher.
Sep 11th 2020, 10:42 am
#6
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Re: AL business: tax declaration
It's too long since we opened our activity (and I can't find the copy of the form!) to know exactly which boxes were completed.
However, fines aside, it may be beneficial for you to be IVA registered. You can reclaim input tax (typically 23%) on relevant expenses and only have to charge 6% to your clients.
However, fines aside, it may be beneficial for you to be IVA registered. You can reclaim input tax (typically 23%) on relevant expenses and only have to charge 6% to your clients.
Sep 11th 2020, 10:55 am
#7
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Joined: Jul 2017
Location: Algarve
Posts: 569
Re: AL business: tax declaration
It's too long since we opened our activity (and I can't find the copy of the form!) to know exactly which boxes were completed.
However, fines aside, it may be beneficial for you to be IVA registered. You can reclaim input tax (typically 23%) on relevant expenses and only have to charge 6% to your clients.
However, fines aside, it may be beneficial for you to be IVA registered. You can reclaim input tax (typically 23%) on relevant expenses and only have to charge 6% to your clients.
