Final decisions about the IRC corporate tax reform will only be known in October, according to the Secretary of State of Tax Affairs, Paulo Núncio.
The secretary of state and Lobo Xavier, president of the IRC reform commission, met last weekend with the Portuguese Business Confederation (CIO) and the Confederation of Portuguese Farmers (CAP) in order to present the IRC reform elaborated by the commission.
Núncio stated that the proposal received “strong support”.
However, he did not reveal any information concerning the measures included in the proposal, and said that a public consultation is under way. The government will only receive the commission’s final draft in October.
During the first presentation of the reform on July 26, one of the main measures proposed a gradual decrease of the IRC tax throughout a period of five years.
Núncio denied that a possible decrease in the tax would affect the government’s financial situation, and defended that the impact which the measure would have on investment, economic growth and job creation would cover any losses.