On 11 October 2021, the Portuguese government submitted the draft budget for 2022 to the parliament. The main corporate tax measures include:
- The 2022 draft budget changed the patent box regulation, which provides for an increase in the exemption from income from the sale or granting of temporary use of industrial property rights (i.e. patents, industrial drawings and models) from 50% to 85%);
- A new tax credit allows for the deduction of expenses related to the acquisition of certain property, plant and equipment, non-consumable biological assets, or intangible assets made between 1 January 2022 and 30 June 2022. The tax credit is subject to certain conditions;
- The government proposes the non-deductibility of expenses whenever the documents supporting them are issued by entities that have not submitted a declaration of commencement of activity in Portugal; and
- The government proposes that, in cases of non-filing of the corporate income tax (CIT) return, the tax authorities calculate the tax base of the taxpayer through the elements at the disposal of the authorities, using the rules of the simplified regime and a 0.35 coefficient.
