Green receipts: Professional expenses will be able to be identified in the invoice issuance.
New measure will allow independent workers to identify expenses related to professional activity in the issuance of the invoice.
Independent workers will be able to allocate expenses to the activity when issuing the invoice.
Self-employed workers will be able to indicate, at the time of issuing the invoice, whether the expenses are related to their professional activity. This change is part of a package of tax simplification measures approved by the Council of Ministers, as reported by Notícias ao Minuto.
So far, professionals with income from category B need to manually classify their expenses on the Finance Portal, specifying whether they are professional or personal costs.
With the new measure, this identification can be done directly on the invoice, avoiding the subsequent process of allocation on the portal of the Tax and Customs Authority (AT). The announcement was made by the Minister of Finance, Miranda Sarmento, during a press conference in Lisbon, accompanied by the Minister of Economy, Pedro Reis.
According to Miranda Sarmento, independent workers are currently facing a demanding bureaucratic process, spending "hundreds of hours" categorizing expenses. With this change, the identification of invoices will be simplified, although its practical implementation will still take some time.
The minister clarified that, if an error occurs in the classification of the expense at the time of issuing the invoice, taxpayers will have the possibility to correct the information later on the Tax Portal.
Stay informed about this and other tax issues by following Poupança no Minuto.