2 October 2014
On 18 September 2014, Portugal's Council of Ministers approved proposed changes to the countries contractual tax incentives regime. Changes include:
Under the current regime, contractual tax incentives are granted for qualifying industrial investment projects in specific activities carried out by 31 December 2020 if they involve an investment of at least €5 million and are deemed to be of a strategic interest to the domestic economy and encourage job creation, technological innovation and domestic scientific research.
The incentives, granted by the central government on a case-by-case basis for a maximum period of 10 years, include a 5% to 20% investment tax credit and an exemption from or reduction of municipal tax on immovable property, municipal tax on the transfer of immovable property and stamp duty.
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