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Portugal Approves Plan to Lower VAT Rate for Power Consumption

Sept. 3, 2020, 5:59 PM UTC
Joao Lima
Joao Lima
Bloomberg Editorial

The Portuguese government approved a plan to lower the value-added tax rate to 13% for a certain amount of power consumption by low-tension clients, according to a statement released after the weekly cabinet meeting.

  • The measure will reduce revenue by EU150m a year, Finance Minister Joao Leao told reporters


To contact the reporter on this story:
Joao Lima in Lisbon at jlima1@bloomberg.net

To contact the editors responsible for this story:
Chad Thomas at cthomas16@bloomberg.net

Henrique Almeida

© 2020 Bloomberg L.P. All rights reserved. Used with permission.

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