Inventory reporting has been a hot topic lately. This is because Order No. 8/2022-XXII outlines a set of changes in tax obligations that require companies to adapt. The deadline to report the inventories for the year 2022 has been postponed to February 28.
Inventory Reporting to the AT – Tax Authority has been mandatory since 2015. This obligation applies to all individuals or entities with headquarters, a permanent establishment, or tax domicile in Portuguese territory, who have organized accounting and are required to prepare an inventory.
In 2022, Order No. 8/2022-XXII enacted several changes in tax obligations, including Inventory Reporting, making it mandatory to report quantities and valuation of stocks and inventories. However, the inventory for the previous tax period (i.e., 2022) can still be submitted with only the quantities in stock, as in previous years. Additionally, the deadline for submitting this inventory report has been extended to February 28, 2023. You now have an extra month to report the inventories for 2022.
The reporting to be completed in 2024 regarding the stocks of 2023 will have to follow the new imposed rules, with reporting in both quantity and value. Your software may need updates. Don’t risk non-compliance – contact Pontual if you have any questions about this matter!
