Portugal's Fiscal Strategy Document (Documento de Estratégia Orcamental) includes plans for an increase in the standard rate of VAT in the country from 23% to 23.25% beginning 1 January 2015. The intermediate rate of 13% and the reduced rate of 6% will remain unchanged.

Portugal has increased its standard rate of VAT two other times in the past 6 years in an effort to reduce its budget deficit. …