Tax and Customs Authority

Binding Information concerning Case No. 7185, published on 4 December 2014 AICB – Acquisition in the EU of an active substance of medicinal products , sent to  a  Portuguese  laboratory  with  which  a  production  service  agreement  was concluded, consisting of works carried out on movable assets

The acquisition in a different country of the EU of active ingredients, delivered to a Portuguese laboratory that subsequently proceeds to the integration of auxiliary and packaging materials, constitutes an intra-Community acquisition of goods, which requires the reverse charge of VAT, since the transaction is taxed in the national territory.

Considering that the acquired goods are destined to be exported, the tax charged may be deducted by the taxpayer.

It should be added that export transactions performed by national suppliers of services are exempt from VAT as per Article 14(1)(c) of the VAT Code, being such exemption attested by a declaration issued by the taxpayer stating the destination of the goods in question.

Tax and Customs Authority

Circular Letter No 15314/2014, 5 December

Establishing the average exchange rates to be used from 10 December 2014 onwards, in order to determine customs value.

Tax and Customs Authority

Instruction Sheet relating to Case No. 7949/2014, published on 10 December 2014

Taxation regime of securitized notes issued by credit securitisation companies

included in a centralised system

The income from securitised bonds falls within the scope of both the Securitisation Tax Regime (Regime Fiscal das Operações de Titularização de Créditos) enacted by Decree- Law No. 219/2001, of 4 August, and the Tax Regime on Income from Debt Securities (Regime Especial de Tributação dos Rendimentos de Valores Mobiliários Representativos de Dívida), enacted by Decree-Law No. 193/2005, of 7 November, making possible for the operators of international settlement systems to choose to apply the mechanisms of proof of pre-conditions for exemption laid down by either of the regimes.

The option for a specific mechanism has to be applied to all beneficiaries of the same securitized bonds issuance. Any eventual change to the chosen mechanism must coincide with the relevant maturity date.

Tax and Customs Authority

Circular Letter No. 15316/2014, of 11 December

Disclosing the list of feed and food of non-animal origin, as well as products destined to contact with food products, from third-party countries, subject to stricter official control at the designated point of entry, which, starting 1 January 2015, will replace the list of Annex I of Circular No. 45/2011, 2nd Series.

Tax and Customs Authority

Circular Letter No. 30164, of 11 December

Clarifying the special VAT regime applicable to taxpayers who are not established in the Member State of consumption or who are not established within the EU and provide telecommunications, broadcasting and television and services provided electronically to non-VAT taxpayers, established or resident within the EU, as well as the regime application mechanisms.

Tax and Customs Authority

Circular Letter No. 15317/2014, of 12 December

Informing that the new consolidated version of the text of the Implementing Provisions of the Community Customs Code (“IPCCC”) has been published on the AT website.

Further notes that the amendments to Article 557(1) of the IPCCC, introduced by Implementing Regulation (EU) No. 1272/2014, of the Commission, of 28 November, concerning the duty suspension regime applicable to imported goods destined to be exported, entered into force on 30 November 2014.

Tax and Customs Authority

Circular Letter No. 30165/2014, of 26 December

Clarifying the localization rules applicable to telecommunications, broadcasting and television services and services provided electronically to non-VAT taxpayers – article 6 of the VAT Code.

Tax and Customs Authority

Circular Letter No. 30166/2014, of 30 December

Developing further Circular Letters No. 30166/2014, of 11 December and No. 30165/2014, of 26 December, in order to clarify the applicability of the special VAT regime to VAT taxpayers who are not established in the Member State of consumption or who are not established within the EU and provide telecommunications, broadcasting and television and services provided electronically to non-VAT taxpayers, established or resident within the EU, in particular its applicability in the autonomous regions of Azores and Madeira.

Tax and Customs Authority

Circular Letter No. 30167/2014, of 30 December

Informing about the, published by the European Commission, listing of gold coins which fulfil the requirements provided in the investment gold regime, approved by Decree-Law No. 362/99, of 16 September.