The end of the tax year brings a concrete obligation for taxpayers: the validation of invoices on the Finance Portal for IRS purposes. This procedure, often postponed, is crucial for the correct calculation of tax and can directly influence the amount payable or received. The deadline ends on the last day of February and failure to comply may result in an effective loss of tax deductions. Starting this Sunday, the 21st, you have exactly 70 days to complete the task.
According to Notícias ao Minuto, the Tax Authority has reinforced alerts to taxpayers about the importance of this step, highlighting that only duly validated expenses are automatically considered in the IRS calculation, avoiding subsequent corrections or omissions with financial impact.
Why validating invoices makes a difference
According to the same source, the validation and classification of expenses allows a percentage of the amounts incurred throughout the year to be deducted from the tax, functioning as a direct mechanism to reduce collection.
Without this confirmation from the taxpayer, the expenses remain recorded, but do not produce automatic effects in the tax calculation.
The publication explains that this process does not require technical knowledge or a lot of time, but has relevant practical consequences, as it avoids the need to manually declare expenses and reduces the risk of losing benefits provided for in tax law.
Where can you validate
Invoices can be validated through the Finance Portal, in the area dedicated to e-Fatura, where all expenses associated with the taxpayer’s NIF are registered and communicated to the Tax Authority by traders and service providers.
There is also the e-Fatura mobile application, which allows you to simply validate expenses and manage invoices from other members of the household, while self-employed workers and sole traders can use the ATGo application to classify professional expenses.
Additional deadlines and obligations
The same source states that the deadline for validating expenses ends at the end of February of the year following their issuance, which is the deadline for the tax authorities to automatically consider the amounts in the IRS calculation, without the need for additional intervention on the part of the taxpayer.
The Tax Authority recommends keeping invoices for a period of four years, counting from the end of the year in which the purchase occurred, in order to ensure possible requests for clarification or inspection.
What is lost if you don’t validate
According to , health, education, household and property expenses that are not validated within the deadline are not canceled, but are no longer considered automatically, forcing the taxpayer to enter them manually in the annual IRS declaration.
In the case of expenses with VAT benefit, the publication clarifies that the lack of validation by February 28th implies the definitive loss of these amounts, and it is not possible to recover them later, which could represent a significant difference in the final tax settlement.
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