Nota de Liquidação

File your IRS and you're done, until AT sends back its response.

The nota de liquidação is the tax assessment AT issues after processing your Modelo 3 declaration. It's AT's answer to your return: you declared your income, AT crunched the numbers, and this is the result. It is not necessarily the last word, because AT can still correct the year later.

What it contains

The nota de liquidação is a breakdown of the tax calculation:

• Your declared income by category (Categoria B services, employment income if any, etc.)
• The deductions applied
• The taxable base after deductions
• The applicable tax rates (or the 20% rate that NHR and IFICI holders pay on qualifying income)
• Withholding tax you already paid, credited against the tax
• The final amount: either what you owe AT, or what AT owes you

If clients withheld tax (retenção na fonte) from your invoices during the year, you declared it in Quadro 6 of Anexo B (campo 602), and it comes off the total owed.

The timeline

April 1 to June 30: You file your Modelo 3.

By July 31: AT issues the nota de liquidação.

By August 31: The refund is paid, if AT owes you one.

What to check when you get it

The most important things to verify:

The income matches what you declared. Compare the income figures with your Anexo B.

Deductions were applied correctly. Compare each deduction against what you declared or confirmed.

Your withholding tax was credited. If clients deducted retenção na fonte from your payments, those amounts should appear as a credit here. If they're missing, check that you declared them in campo 602 of Anexo B.

If something doesn't match and you can't explain it, take it to a certified accountant as soon as you spot it rather than waiting.