Portugal To Lower VAT On Certain Utilities
by Ulrika Lomas, Tax-News.com, Brussels
29 April 2019
Senior Portuguese ministers have approved a proposal to introduce the six percent reduced rate of value-added tax on supplies of electricity and natural gas to certain consumers from July 1, 2019.
Portugal's Council of Ministers agreed the reduced rate will apply to three million households' electricity bills and 1.4 million households' natural gas bills. It is targeted at those households with lower electricity power, in a bid to ensure that lower income households benefit most.
A reduced rate of four percent will apply in Azores, and five percent in Madeira.
It will benefit those who, for electricity, have contracted electricity power not exceeding 3.45 kVA and, for natural gas, have low pressure consumption of gas not exceeding 10,000 m3 per year.
To see today's news, click here.
Tax-News Reviews
A review and forecast of Cyprus's international business, legal and investment climate.
A review and forecast of Malta's international business, legal and investment climate.
A review and forecast of Jersey's international business, legal and investment climate.
A review of the latest budget news and government financial statements from around the world.
Stay Updated
Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.
By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.
To manage your mailing list preferences, please click here »
Network Blogs and Features
- You Think Offshore Banking is Only for the Wealthy? Think Again! »
- Budget Measures »
- Talking Indirectly »
- Restriction and Disqualification of Directors in Ireland who fail to close a company correctly »
- How to Choose the Best State to Incorporate your Business? »
- Moving Houses Of Parliament »
- A Digital World »
- Top 5 bookkeeping tips for Hong Kong business »
- interesting times »
- grist to the mill »