Relevant Information to Apply from January

With the beginning of the new year, the publication of the State Budget Law for the year 2024 – Law No. 82/2023, of December 29 – and other related legislation, it is important to systematize some relevant information.

RMMG and IAS

The value of RMMG has been updated to 820.00 euros.

Similarly, the value of IAS, a determining reference in the establishment, calculation, and update of social security benefits, has been updated to 509.26 euros.

Meal Allowance

For 2024, for most companies, the limit for tax purposes remains at 6.00 euros when the meal allowance is paid in cash and 9.60 euros when paid through voucher/card/meal ticket.

Allowances and Kilometers

To compensate workers for business-related travel, the following limits are now in effect:

• Kilometers per trip in own vehicle: 0.40 euros (previously 0.36 euros)
• Internal travel allowances
  • General workers: 62.75 euros (previously 50.20 euros)
  • Government members: 69.19 euros (no change)
• International travel allowances:
  • General workers: 148.91 euros (previously 89.35 euros)
  • Government members: 167.07 euros (previously 100.24 euros)

PDF Invoices

Until December 31, 2024, PDF file invoices are accepted and considered electronic invoices for all purposes provided by tax legislation.

Electronic Invoicing

The obligation of electronic invoicing for public entities is postponed to January 1, 2025, for small, medium, and micro-enterprises.

SAF-T(PT) Accounting

The submission of the SAF-T (PT) file related to accounting, as defined by Order No. 31/2019, of January 24, applies to periods from 2025 onwards, to be submitted in 2026 or subsequent periods.

Communication of Invoice Elements

Individuals or entities subject to billing rules in Portuguese territory and engaging in VAT-liable operations are required to electronically transmit to the Tax and Customs Authority (AT) the elements of invoices issued in accordance with the VAT Code, as well as the elements of documents that enable the verification of goods or services and receipts.

The deadline for this communication is extended to the 5th day of the following month of issuance, thus, invoices issued in 2024 should be communicated by the 5th day of the following month.

Inventory Communication

The communication of inventories to be carried out in January 2024 (relating to the year 2023) will continue in the initial manner, meaning the obligation of its valuation still does not apply.

Reading this information don’t replace the need to consult the applicable legislation.

For any questions, please contact our services.