- Portugal’s draft Budget Law for 2024 includes various tax measures
- The budget law must be approved by parliament before it can be enacted
- If approved, the law will enter into force on January 1, 2024
- Some of the VAT-relevant changes include the extension of VAT exemption for compost and fertilizers until December 2024
- VAT exemption for essential food items will not be extended until the end of 2023
- VAT exemption on tickets for people accompanying those with a disability
- Reduced VAT rate of 13% on certain beverages when supplied with food and beverage services
- Simplified VAT refund regime for travel agencies organizing events and procedures for refunds
- Progressive taxation of certain petroleum and energy products
- IABA rates applicable to alcoholic beverages and drinks containing added sugar or sweeteners would increase by 10%
- Law No. 56/2023 provides for changes to the Portuguese VAT Code to apply the reduced VAT rate to services relating to the construction or rehabilitation of certain immovable property.
Source: fiscal-requirements.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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