Portugal Parliament Approves Decree to Reduce General Corporate Income Tax Rates

The Portuguese Parliament Oct. 17 approved Decree No. 14/XVII, to reduce general corporate income tax rates. The decree specifies: 1) a 17 percent rate, with exceptions, also on the total income of entities with their registered office or effective management in Portuguese territory that don’t primarily carry out activities of a commercial, industrial, or agricultural nature, applicable to tax periods beginning on or after Jan. 1, 2028, with transitional rates of 19 percent and 18 percent, for tax periods beginning in 2026 and 2027, respectively; and 2) a 15 percent rate on the first 50,000 euros (US$57,383) of taxable income, ...