{"id":2652,"date":"2019-12-27T09:19:09","date_gmt":"2019-12-27T09:19:09","guid":{"rendered":"https:\/\/www.rosarioduarte.pt\/oe-2020\/"},"modified":"2026-04-02T15:47:54","modified_gmt":"2026-04-02T15:47:54","slug":"oe-2020","status":"publish","type":"post","link":"https:\/\/www.rosarioduarte.pt\/en\/oe-2020\/","title":{"rendered":"2020 State Budget: Main Tax Measures"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><strong>Impacts on families<\/strong><\/h3>\n\n\n\n<p><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Slight increase in the IRS deduction for dependants under three years old.<\/li>\n\n\n\n<li>Partial IRS exemption for young people in their first job, with annual income below \u20ac29,179, aged 18\u201326, not considered dependants and holding at least level 4 of the National Qualifications Framework.<\/li>\n\n\n\n<li>Progressive IRS rates maintained, with brackets updated by 0.3%, which slightly widens the range of income taxed at the lower rates. <\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Impacts on companies<\/strong><\/h3>\n\n\n\n<p><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Increase in the slice of SME taxable profit benefiting from the reduced 17% IRC rate, from \u20ac15,000 to \u20ac25,000 (maximum annual saving of about \u20ac400).<\/li>\n\n\n\n<li>30% increase in deductible expenses related to public transport passes for employees and pensioners.<\/li>\n\n\n\n<li>Higher minimum value threshold for passenger vehicles and motorcycles subject to autonomous taxation, from \u20ac25,000 to \u20ac27,500.<\/li>\n\n\n\n<li>In tax incentives: the deduction for retained and reinvested profits (DLRR) rises to \u20ac12 million, and the SIFIDE II R&amp;D incentive is extended to 2025.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Real estate and local accommodation<\/strong><\/h3>\n\n\n\n<p><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Higher IMI for ruins and building plots in high\u2011pressure urban areas, and repeal of IMI exemptions for national monuments.<\/li>\n\n\n\n<li>Increase in IMT on residential properties valued above \u20ac1 million.<\/li>\n\n\n\n<li>IRS\/IRC exemptions for rental income under municipal affordable housing programmes.<\/li>\n\n\n\n<li>Heavier taxation of local accommodation in \u201ccontainment areas\u201d under the simplified regime: 50% of income becomes taxable (previously 35%).<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Foreign pensions and the NHR regime<\/strong><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>The main novelty concerns <strong><a href=\"https:\/\/www.rosarioduarte.pt\/en\/estatuto-residente-nao-habitual\/\">Non\u2011Habitual Residents (NHR)<\/a><\/strong>. From 1 April 2020, new NHR beneficiaries are subject to a 10% flat rate on foreign\u2011source pensions. Taxpayers already registered, or who met the conditions before that date, retain the previous full exemption.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<p class=\"ql-heading\">Rita Duarte | <a class=\"ql-link\" href=\"mailto:rduarte@rosarioduarte.pt\" target=\"_blank\" rel=\"noopener noreferrer\">rduarte@rosarioduarte.pt<\/a><\/p>\n\n\n\n<p><a class=\"btn gray\" href=\"http:\/\/eepurl.com\/gyHAu1\" target=\"_blank\" rel=\"noopener\">Sign up for our Newsletter<\/a><br>\u00a0<\/p>\n\n\n\n<h5 class=\"wp-block-heading ql-heading\"><strong>Contact us and\/or book a meeting <a href=\"https:\/\/www.rosarioduarte.pt\/en\/contacts\/\">here<\/a>.<\/strong><\/h5>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Impacts on families Impacts on companies Real estate and local accommodation Foreign pensions and the [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2652","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.rosarioduarte.pt\/en\/wp-json\/wp\/v2\/posts\/2652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rosarioduarte.pt\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rosarioduarte.pt\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rosarioduarte.pt\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rosarioduarte.pt\/en\/wp-json\/wp\/v2\/comments?post=2652"}],"version-history":[{"count":2,"href":"https:\/\/www.rosarioduarte.pt\/en\/wp-json\/wp\/v2\/posts\/2652\/revisions"}],"predecessor-version":[{"id":2658,"href":"https:\/\/www.rosarioduarte.pt\/en\/wp-json\/wp\/v2\/posts\/2652\/revisions\/2658"}],"wp:attachment":[{"href":"https:\/\/www.rosarioduarte.pt\/en\/wp-json\/wp\/v2\/media?parent=2652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rosarioduarte.pt\/en\/wp-json\/wp\/v2\/categories?post=2652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rosarioduarte.pt\/en\/wp-json\/wp\/v2\/tags?post=2652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}