Fiscal Simplification Agenda: 8 New Measures Approved
On March 10, the Portuguese Council of Ministers reinforced its commitment to reducing administrative burdens and boosting business competitiveness by approving eight new measures under the Fiscal Simplification Agenda. These complement the 30 initiatives announced earlier this year, aiming for a more agile and transparent tax system.
Key New Simplification Measures
Among the newly integrated changes, the highlights include:
- CIT – Simplification of Impairments: Streamlining the recognition process for losses on non-current assets.
- VAT Flexibility: Option to choose between monthly or quarterly reporting regimes.
- Isolated Acts: Exemption from declaring the start of activity.
- Model 10 Declaration: Extended deadline for reporting income paid to residents.
- Property Valuation: End of the requirement to submit physical floor plans.
Other Measures Already in Force
The Tax Agenda has already implemented significant improvements, such as:
- Automatic submission of “zero” VAT declarations.
- Elimination of redundant annexes (Q and O) in the IES (Simplified Business Information).
- Customs simplification for low-value shipments.
- Waiver of withholding tax for small amounts (under €25).
A Fairer and More Efficient Tax System
For the Secretary of State for Fiscal Affairs, Cláudia Reis Duarte, this is a dynamic process focused on eliminating contextual costs and promoting tax fairness, revoking obsolete obligations found in outdated legislation.
Consult all details in the Official Government Statement (available in Portuguese).
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