Have you done this one task to Reduce your Tax ? (You have until February 25th, 2025)
- mouniamikou
- 5 févr. 2024
- 3 min de lecture
Dernière mise à jour : 17 févr.
You have few days left to carry out one task to reduce your tax easily.
Indeed, if you want to reduce the amount of tax you might have to pay in 2025, all you have to do is review and categorise the invoices that have been issued in your name, or rather those for which you have provided your tax identification number (TIN).
To find out how to take advantage of this tax reduction and for a step-by-step guidance, please read this article.
I'll tell you all about this tax reduction:
1. What is it ?
Some of your expenses may reduce the amount of income tax you might pay, or even increase the amount of the refund you might receive.
This applies to certain categories of expenditure:
- your general household expenses
- you health expenses
- your education costs
- your property expenses
- your household maintenance and support for the elderly
- your car and motorbike maintenance expenses
- your hotel and restaurant expenses,
- the veterinary expenses,
- your transport costs
- your gym expenses.
Part of the amount of these expenses is taken into account, within certain limits, to reduce the amount of tax you might pay.
That's why filing and confirming invoices issued in 2024 will help to reduce the amount of tax payable in 2025.
This needs to be done before February 27th 2025.
Tip: Throughout the year, remember to give your TIN when you incur expenditure in these categories. This will reduce the 2025 tax payable in 2026.
2. How to do this?
Go to the E-facturas platform and categorise your expenses by type (health, education, property, hotel and catering, etc.).
The amount of your tax reduction will then be displayed.
If you carry out a professional activity (Recibo Verde), you can also indicate whether the invoices relate wholly or partly to your professional activity.
3. Step-by-step guide
To do this one task to reduce your tax, take your NIF and password and go to E-facturas :
- Online
- On the Android app
- On the iPhone app
In the top banner, click on :
- Despesas Dedutíveis em IRS, then
- Adquirente, then
- Verificar Faturas.
At the top of your screen, a message in a yellow banner indicates the number of invoices awaiting validation. Click on the grey "Complementar informaçoes Faturas" button.
For each invoice, indicate the sector in which it falls (health, education, property, hotel and catering, etc.) and specify whether it relates wholly or partly to your professional activity.
To take things further, you can also add your medical prescriptions (receitas). This is useful for healthcare expenses subject to 25% VAT.
If you need help navigating the platform, you can watch this video created by the Portuguese tax authority.
4. Key points to remember
Invoices must be classified before 27 February 2025.
The closer we get to this date, the greater the risk that the site will be saturated. By looking ahead, you can avoid site crashes.
In 2025, remember to give your NIF for expenses in the categories mentioned at the beginning of the article.
Enjoy your classification!
Mounia
If you have any questions about your tax affairs, you can send me an email or book a consultation.