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Quick tax question regarding cash vs accrual

S
#1

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 expat.


many thanks.

See also
Jorge Silva75
#2

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

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S
#3

great. thanks.

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