A new version of the Portuguese SAF-T is in place since July 1st, 2017.
This version is the fourth iteration of the file, since it was first introduced in the country, in 2007. It was approved by the Ordinance No. 302/2016, issued on December 2nd.
The new version introduces two changes that affect both accounting and invoicing systems.
The first concerns the addition of new documents to the set that is already communicated to the Tax Authority. From this date on, economic agents are now obliged to send information regarding the issuance of budgets, purchase orders, fee notes and pro forma invoices.
In practical terms, these changes imply that economic agents will no longer be able to edit or eliminate these documents, once they’re officialised and issued to a certain customer (as it already happens with other documents included in the SAF-T, like invoices, receipts, and credit notes).
The second change to the file concerns the creation of taxonomies, i.e., correspondence tables that allow the characterization of accounts according to the accounting norm used by each taxable person and subsequently the prefilling of two annexes of the IES (Informação Empresarial Simplificada), one of the main and most complex obligations that companies must fill and submit to the Tax Authority each year.