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New package on investment tax incentives published

29 July 2013

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Approved Changes

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Portugal

On 17 June 2013, the Official Gazette published Decree-Law No. 82/2013, approving new measures to support and promote investment. The Decree-Law No. 82/2013 consolidates all the scattered applicable tax investment incentives in the Tax Benefits Statute. Further, the Decree-Law amends the existing Contractual Investment Tax Regime ("RFAI") and the Business R&D Tax Incentive System ("SIFIDE"), as follows: -   the threshold for qualifying investments is reduced from EUR 5 Million to EUR 3 Million; -   the tax incentive contracts, or relevant amendments, shall be approved within 60 days (no deadline in the previous regime); -   urgent rulings shall...