Obligation to report inventories to the Tax Authority by January 31, 2025

All taxpayers, whether individuals or legal entities, with headquarters, a permanent establishment, or a tax residence in Portugal, who maintain organized accounting and are required to prepare an inventory, must report their inventories to the Tax Authority (AT). Taxpayers subject to the simplified taxation regime for personal income tax (IRS) or corporate income tax (IRC) in the year to which the inventory refers (2024) are exempt from this obligation. It is important to note that Non-Profit Sector Entities (ESNL) are also required to report their inventory, provided they meet the aforementioned requirements.