Feburary 2008

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European Community

Portugal has changed the standard VAT (IVA) rate from 21 to 20 % effective July 1, 2008.

The European government will implement new VAT rules effective January 1, 2010 for the 27 member countries:

  • Place of supply for business-to-business supplies of services (taxpoint).
  • New fully electronic filing procedure for VAT refund claims from EU based businesses.

 


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