The VAT rules applicable to vouchers have been changed
Tax Alert 2-2019
Ruling no. 30208, of 4 January was disclosed on the Portuguese Tax Authorities’ website, clarifying the interpretation and application of article 275 of Law no. 71/2018 (Budget Law for 2019), which transposed the Council Directive (EU) 2016/1065, of 27 June 2016 [amending Directive 2006/112 (EU), of 26 November 2006 – “VAT Directive”) as regards the VAT treatment of vouchers.
Therefore, the VAT Code was amended in order to adapt its rules regarding the taxable event and the taxable amount according to the introduction of new concepts such as “voucher”, “single-purpose voucher” and “multi-purpose voucher” in article 1, no. 2, paragraphs l), m) and n), of the VAT Code.
These rules are applicable to vouchers issued as from 1 January 2019.