Portugal's Budget Law for 2023 (Draft Law 38/XV/1) was approved in a final vote in Parliament on 25 November 2022. The final version of the law is largely in line with the draft submitted in October 2022. As previously reported, the main tax-related measures include:

• A reduction in the allowed offset of losses carried forward from 70% to 65% of taxable profit, but with the removal of the time …