Thursday, the Day of Results and Hearings on Tax Benefits in Parliament
5 Articles
5 Articles
Portugal has more than 500 tax benefits and all argue that it is necessary to reduce, but the temptation is to create more and more. Three former secretaries of state explained why in Parliament.
There is often a perception that creating a tax benefit can solve the problem without requiring funding, budget allocation, without spending money, but in many cases this represents an illusion, warned the former governor of the last executive of Antonio Costa (PS), at a hearing in parliament, in the working group for the assessment of tax benefits, which operates in the Committee on Budgets, Finance and Public Administration (COFAP).
Former Secretary of State for Tax Affairs Nuno Felix warned that creating tax benefits is an "easy attempt" to solve problems, but can generate losses and increase bureaucracy.
The Revenue Department is accepting public comments on the draft Tax Credit Refund Act (QRTC) until November 5, 2026. The bill incorporates OECD-level minimum tax regulations, proposing the use of tax credits for tax payment or cash refunds under certain conditions. It also aims to allocate up to 1% of corporate tax as a source of funds for refunds. The post “Revenue Department” Opens Hearing on Tax Credit Refund Act, Aims to Allocate 1% of Corp…
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