Portugal: Lower tax burden in 2015

18 November, 2013

The Finance Minister of Portugal has indicated that the Government is aiming to reduce the tax burden on workers in Portugal within the framework of the 2015 State Budget (OE 2015).

The State Budget 2014 of Portugal is designed to redress the public finances by around EUR3.9bn (USD5.3bn). The bill provides for an extraordinary solidarity contribution to be maintained and for a rise in car and diesel tax, as well as for an increase in taxes on alcohol and tobacco. The real estate funds will be subject to taxation. Corporation tax (IRC) will be cut in 2014, from 25 percent currently to 23 percent, to boost investment and to increase the competitiveness of companies in Portugal.

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