Annual budgets provide countries with the opportunity to assess their existing tax rates, and devise strategies relating to these that align with their specific fiscal agendas.

Portugal has already reduced the VAT rate for electricity from 13% to 6% from October 2023. The country’s 2024 budget is proposing an increase in this reduction, until the end of 2024.

Portugal is compliant territory for Kofax, and our e-invoicing solution supports all valid VAT rates in the country today.