Tax Alert – Update to New Stamp Duty Rules in Portugal
We can confirm that due to the delays caused by the current COVID-19 pandemic the Portuguese tax authority has decided to defer the introduction of the new Stamp Duty reporting system to 2021. Instead, reporting will be done through the ‘old’ system that was in use until December 2019.
This means that the additional requirements outlined in previous notices will not be required until 2021. Despite this, we recommend that all clients continue to work on any process changes required to facilitate the availability of this information to ensure it is ready in good time.
The official announcement can be accessed here.
If you have any questions concerning this update, please get in touch with a member of the team at firstname.lastname@example.org