Government has 180 days to legislate cash VAT regime for companies with annual turnover up to two million euros

• Authorization for Government to legislate on Corporate Income Tax (IRC) and Cash VAT lasts 180 days
• Three legislative amendment proposals sent to parliament have a duration of 180 days
• Government has 180 days to legislate on IRC reduction, changes in double taxation avoidance regime, and expansion of Cash VAT
• Measures are part of the Accelerate the Economy Program approved by the Council of Ministers
• IRC authorization includes gradual reduction of tax rate from 21% to 15% by 2027
• Changes in participation exemption regime aim to exempt dividends and capital gains received by Portuguese resident companies with a 5% or more stake
• Cash VAT regime to be extended to companies with annual turnover up to two million euros, up from current 500,000 euros limit

Source: jornaldenegocios.pt

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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