3 November 2021
On 27 October 2021, the Portuguese parliament vote in a plenary meeting to reject the draft bill for the 2022 Budget (Bill 116/XIV/3). The draft bill was submitted in parliament on 11 October 2021 and includes various tax-related measures, including revised personal income tax brackets/rates, an increased reduction (exemption) of qualifying taxable IP income under the patent box regime, a new tax incentive regime for recovery, and other measures. With the rejection of the draft bill, a new budget bill must be drafted and submitted, which is not expected until after possible government elections in early 2022.
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