The Azores (a Portuguese independent region) has increased its standard Value Added Tax (Imposto sobre o Valor Acrescentado) rate from 16% to 18%, with effect from 1 January 2014. Further, the reduced VAT rate of 9% (IVA intermedio) on water, fuel, entertainment etc will rise to 10%. The other reduced rate of 4% (IVA reduzido) applicable to foodstuffs and hotels was also increased to 5%.
Related Posts
Portugal proposes several VAT measures in draft state budget law 2025
October 28, 2024
Portugal released the state budget law for 2025 (Law No. 26/XVI/1) on 10 October 2024, proposing various VAT measures. The draft Budget Law for 2025 proposes reduced corporate tax rates for companies and SMEs and revised personal income tax rates,
Read More Portugal adopts Pillar 2 global minimum tax for large corporations
October 21, 2024
Portugal has adopted the global minimum tax for large multinational and domestic groups, effective from 18 October 2024. This legislation aligns with Council Directive (EU) 2022/2523 and the OECD Pillar Two Model Rules. The law introduces the
Read More
Portugal proposed reduced corporate tax rates in draft 2025 budget law
October 17, 2024
Portugal’s Finance Minister submitted the draft Budget Law for 2025 (Draft Law No. 26/XVI/1) to parliament on 10 October 2024, proposing reduced corporate tax rates for companies and SMEs and revised personal income tax rates and other tax
Read More
European Commission refers Spain, Cyprus, Poland, Portugal to court for failing to transpose Pillar Two Minimum Taxation Directive
October 07, 2024
The European Commission (EC) decided to refer Spain, Cyprus, Poland, and Portugal to the Court of Justice of the European Union for failing to notify measures for the transposition into national law of Council Directive (EU) 2022/2523 of
Read More Portugal approves draft law for Pillar Two global minimum tax
September 17, 2024
Portugal's Council of Ministers approved Draft Law 21/XVI/1 for implementing the Pillar Two global minimum tax, in line with Council Directive (EU) 2022/2523 of 14 December 2022 on 11 September 2024. The draft law introduces the Pillar Two income
Read More Portugal appoints committee to revamp tax procedures
July 30, 2024
As part of tax measures introduced by Portugal’s 24th constitutional government, the Portuguese Minister of Finance, Joaquim Miranda Sarmento, on 25 July 2024, established a Commission tasked with reviewing and proposing a comprehensive reform of
Read More