Portugal Introduces Extraordinary Investment Tax Credit to Boost Investment

SUNNYVALE, Calif. - Aug. 28, 2013 - PRLog -- The Portuguese government has recently introduced an extraordinary investment tax credit with effect from July 17, 2013. The new measure is expected to create a congenial ambience for investment and will encourage growth and employment in Portugal.

Extraordinary Investment Tax Credit: Main Features

*          The special tax credit will be applicable to investments between July 1, 2013 and December 31, 2013, to a limit of EUR 5,000,000.

*          The tax credit will be to the tune of 20% of the investment and up to a maximum limit of 70% of total Corporate Income Tax (CIT) due.

*          Any surplus credit can be carried forward for five years.

To avail the benefit of the investment tax credit, a company must:

*          regularize its tax situations

*          maintain proper accounts

*          must not be subject to any indirect method of taxation.

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