Portugal Government Program Includes Corporate and Personal Income Tax Rate Cuts

Portugal's new government approved its government program on 10 April 2024 and delivered it to parliament, including several tax-related measures. Some of the main measures include:

• A reduction in the corporate tax rate by 2 percentage points per year over three years from 21% to 15%;
• A reduction in the personal income tax marginal rates by 0.5 to 3 percentage points up to the eighth bracket;
• A two-thirds reduction in the personal income tax for "youth", with a maximum rate of 15% for young…