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Quick tax question regarding cash vs accrual

sponger

Hello.


Quick question Portugal Portugal determine income (as a Freelancer under NHR) for services billed or collected? I had a large invoice which I invoiced a client in late December and it was paid in mid-January. I know in the US, I'm taxed on a cash basis so this would count towards my 2023 taxes but not sure here in Portugal as this is my first year filing as an °µÍø½ûÇø.


many thanks.

See also

The tax system in Portugal NIF online for EU citizenTax Accountant - NHR°µÍø½ûÇø taxesContrato de arrendamento - NIF changes
Jorge Silva75

As far as IRS is concerned, simplified regime, it is taxable upon cash received. So that sum will be taxable in 2023.


Jorge Silva, CPA

sponger

great. thanks.