Cash payments/receipts

Payments made by a corporate income taxpayer (IRC), as well as individual income taxpayers (IRS) who have or are required to have organized accounting, related to invoices or equivalent documents of a value equal to or greater than € 1000, or its equivalent in foreign currency, must be made through a payment method that allows for the identification of the respective recipient, namely bank transfer, named check, or direct debit (LGT article 63-E).

If it is an individual, it is prohibited to pay or receive in cash in transactions of any nature involving amounts equal to or greater than € 3000, or its equivalent in foreign currency. This limit is € 10,000, or its equivalent in foreign currency, whenever the payment is made by individual persons not residing in Portuguese territory and provided that they do not act as entrepreneurs or traders.