Jam Tomorrow
Global Tax Insights
14 November, 2013
Jam tomorrow for the Portuguese, facing another year of austerity under the country’s 2014 budget, but at least corporation tax is being cut, if only by two percent, to 23 percent. It’s billed as a step on the way towards a target rate of 19 percent by 2018; but the situation is worse than that for bigger companies, which pay up to five percent more in surtax, plus a local supplement of up to 1.5 percent, making a total of 29.5 percent, which suddenly doesn’t sound so attractive. The Spanish headline rate is stuck at 30 percent, so maybe there’s an element of local competition in Portuguese thinking. Portugal is still under an EU bailout program worth EUR68bn, but does seem to be struggling free of the worst of its crisis, with a return to growth in the second half … Read More »
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Global Tax Insights
Wolters Kluwer Tax & Accounting, a division of Wolters Kluwer, is the leading provider of premier information, research and software tools in the global tax and accounting arena. Tax, accounting and audit professionals who serve as trusted advisors to clients and businesses worldwide rely on authoritative content and integrated workflow solutions from global leader Wolters Kluwer Tax & Accounting. View Global Tax Insights posts at tools.cchgroup.com/intl/
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