The Government announced a package for economic growth of 60 measures that will be advanced during the legislature, according to the Executive of Luís Montenegro. Many of the measures were already in the Government’s program, such as the reduction of the IRC.
The 60 measures include:
- Gradual reduction of the CIT from 21% to 15%; The rate for SMEs will also be lower with the gradual reduction of the rate over three years, from 17% to 12.5%, applying to the first 50 thousand euros of taxable income;
- Create a minimum tax mechanism of 15% for multinational and national groups, a measure that involves the transposition of the European directive;
- Creation of the VAT group regime, with the possibility of intra-group compensation of the balances of this tax;
- Greater eligibility for the per capita VAT regime, with companies with a turnover of up to 2 million euros (currently 500 thousand) now eligible;
- Expand access to the “exemption from participation”, exempt from taxes the dividends and capital gains of companies resident in Portugal when they have a 5% stake (and not 10% as currently);
- Extension of the stamp duty exemption for centralised treasury management operations;
- Increase in the deductibility of financing expenses incurred in merger operations, when more than 50% of a company’s capital is purchased;
- IRS deduction on dividends and realized capital gains of 20% of capital contributions, to encourage the capitalization of companies by individuals;
- Launch of the “Statement payable in 30 days” plan;
- IFICI+ Regulation, which promotes tax incentives for scientific research, innovation and human capital, “in order to cover a broader range of qualified professions and companies”. In this case, foreigners pay 20% of the IRS (categories A and B); pensions and capital gains are excluded;
- SIFIDE II Review – 20% of SIFIDE funds can be allocated to productive innovation and spending can be increased from 7.5% to 5% of the previous year’s turnover, extending the investment period from 3 to 5 years in innovation;
- Review of the tax deductibility regime for “goodwill“in concentration operations;
- Strengthening financial incentives for “Small MidCaps” within the scope of PT 2030;
- Review of the definition of Small Midcap and Midcap;
- Launch of a deep tech investment fund, focused on sustainable innovation;
- Support vouchers for startups applying to international acceleration programs;
- Ignition fund for growing startup projects;
- Support the hiring of doctors by companies with a hiring support line;
- Researchers and professors may form part of social bodies or be shareholders of Opening without violating the respective exclusivity regimes;
- National Technological Innovation Training Program;
- National Innovation Protection Program;
- Review of the Industrial Property Code and for this purpose a working group will be created;
- Speed up the process of analyzing requests for incentive systems, establishing a maximum period of 60 days to analyze the requests;
- Prioritize continuous alerts with “cut-off” evaluation mechanisms in incentive programs;
- Implementation of simplified cost models with standardized unit costs for R&D projects;
- Facilitate the categorization of startups;
- Launch of the “Innovative Suppliers Network” program;
- Definition of a national strategy for sustainable reindustrialization;
- Launch of a technology industry development programme to support scientific infrastructures;
- Launch of the Defense Economy Program;
- Qualification programme for SMEs and training of leaders;
- Contribute to the definition of the benchmark for verifying ESG reports;
- Creation of the ”PME Leader ESG” award;
- Inclusion of ESG criteria in access to public incentives and contracts;
- Accelerating the circular economy in trade and services;
- Affirming the Portugal brand in the global context;
- Review and reinforcement of support lines for Tourism;
- Launch of the Tourism + Nearby Program and Promotion of Local Commerce;
- Strengthening and expanding the Offer Qualification Support Line;
- Launch of the 2024 Tourism Bonds;
- Launch of the Tourism 2035 Strategy;
- Strengthening the digitalization of the tourism sector;
- Launch of the International Tourism Campaign;
- Review and reinforcement of Portugal Events;
- Internationalization Program for Companies and National Brands;
- Expansion of the Network of Portuguese Tourism Teams in Foreign Markets;
- Restructuring of Regional Tourism Entities;
- Formalization of the Revive Património program;
- Sustainability Plan, Circular Economy and Climate Agenda for Tourism;
- Restructuring and expansion of the training model in Tourism;
- Integration and training programme for migrants and refugees in the tourism sector;
- Creation of a training campus in international tourism;
- Establishment of strategic alliances for the qualification and integration of young people in CPLP countries;
- Reactivation of the Interministerial Commission on Maritime Affairs;
- Update of the Satellite Account of the Sea;
- Completion of the National Maritime Space Management Plan;
- Promote support for innovation in blue biotechnology;
- Approve the National Marine Litter Plan 2024-2028;
- Launching ocean campaigns;
- Action plan to combat ocean acidification.
Check out the 60 measures announced by the Government to boost the economy here
Source: Observadora
