Beneficial corporate tax cut, Portuguese economy minister – EURACTIV.com

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Reducing corporate tax for companies would be an important signal for the whole sector and beneficial given the current crisis, Economy Minister António Costa Silva said on Sunday.

“Today, given the crisis we are facing, I think it would be extremely beneficial to have this reduction at all levels and, from there, to see what impact it could have on the future,” the minister said, addressing reporters on the sidelines. a visit to Portuguese companies participating in the MICAM shoe fair in Milan from Monday to Tuesday.

“I hope that in the negotiation of the agreement on income and competitiveness and, afterwards, in the state budget, we can have this objective of reducing corporate tax,” he said. he adds.

Although the government program provides for a selective reduction in corporate tax, aimed at companies that reinvest part of their profits in economic activity, invest in technological innovation or hire qualified young people, Costa Silva said that It had always been “unequivocally that the country, somewhere, had to make this across-the-board corporate tax cut.

“I have not changed my mind”, he assured, explaining that what happened was that “after the discussion, and within the framework of the government programme”, which has been recorded, it is “the selective reduction figure”.

The corporate tax rate is 21% on corporate profits up to €1.5 million. A state surtax is added to this rate for companies with higher profits and a municipal surtax.

(Patricia Dinis/Lusa.pt)

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