It was approved by the Council of Ministers, on 18 September, the new Fiscal Code for Investment in Portugal, which will strengthen the tax benefits for companies investing in the country. In this manner, the Portuguese government creates “conditions for to double the number of enterprises and the value of investments in the next three years”, affirmed Paulo Nuncio, Secretary of State for Fiscal Affairs.
This code, adapted to the new European legislative framework, “aims to increase support for investment, promoting sustainable growth, job creation and contribute to reinforcement of companies’ capital structure”. With regard to contractual tax benefits, the code includes a 10% increase for tax credit for investments made in the interior of the country, of 8% for those who create new jobs, and 6% for technological innovation and protection of the environment investments.
“Regarding the Tax Regime to Support Investments, the credit limit imposed on the IRC (Corporate Tax) is also increased, the maximum period of exemption from Property Tax is extended, as well as the scope of exemption of Stamp Duty, encouraging entrepreneurship, innovation and fostering the creation of companies with healthy capital structures”, the Council of Ministers said in a statement.
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[photo credit: Ken Teegardin]
