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Overview of country specific accounting and VAT/Tax legislation

Accounting Requirements

Accounting Books:
  • Trial Balance Reports (Diario Razão, Balance Normal)
  • Vendor/Customer Trial Balance
Other Requirements:
  • National Chart of Accounts (Plano Oficial De Contabilidade)
  • Tax Depreciations (Fixed Assets) to be posted in General Ledger
  • Grossing up on Fixed Assets sales
  • Year-end closing of balance sheet accounts

VAT/Tax Requirements

Applicable Types
  • VAT (IVA)
  • Import VAT
  • Withholding Tax for special services or private persons (IRS)
VAT/Tax Books:
  • EU Sales Listing (VIES)
  • Intrastat Listing
  • Periodic VAT Return (detailed file for upload on internet reporting) (Declaration IVA)
Other Requirements:
  • Annual electronic Declaration for fiscal and Accounting information (Declaração Annual e Anexos)
  • Partly non-deductable input VAT
  • Separate VAT accounting for Credit Memos

Usual Business Requirements

  • Electronic payments of vendors
  • Direct debit (electronic) of customers
  • Checks
  • Mailing adress in right side of documents


Requirements that exist in most countries, e.g. documentation of transactions, Annual Accounts or periodic reporting of VAT totals, are NOT listed above if no specific legislation exists about format or content.


DISLAIMER: No responsibility is taken of the correctness of above information. The specific accounting and VAT/Tax requirements for a company should always be confirmed with local auditors. The listed issues may not be applicable for all types of companies as well as additional issues may exist depending on the specific type of business.