Portugal President Signs 2024 State Budget Bill

The Portuguese President Dec. 21 signed the 2024 State Budget Bill. The Budget includes measures: 1) reducing the corporate tax rate to 12.5 percent for eligible start-ups on specified income; 2) increasing the deduction under the regime to encourage capitalization of companies, by 50 percent in 2024, 30 percent in 2025, and 20 percent in 2026; 3) amending tax rates for specific vehicles, to 8.5 percent, 25.5 percent, and 32.5 percent; 4) reducing the deduction period for business goodwill to the first 15 years after initial recognition, from 20; 5) providing a 20 percent increase in loss and expense deductions ...