- Madeira decreased reduced VAT rate to 4% from the former 5%
- The measure will be effective from 1 October 2024
- This is part of tax relief policies adopted by the Regional Government
- The reduction to 4% is the maximum limit allowed by law
- The measure was published in the Budget Law for 2024
- The new VAT rate takes effect in October 2024 to allow for a smooth transition and adjustment of billing systems
Source: marosavat.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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