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Monthly Archives: January 2015

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Tax Number required for Deductions in 2015

Under the new Budget rules, Tax and Customs Authority (AT)NALLE logo-red 30% officials alert that, as of January 2015, only invoices that include an individual’s tax number (NIB) will be eligible for tax deductions on personal income tax expenses.

This applies also to pharmacy receipts.

Tax payers can claim up to 1000€ in medical expenses (doctors’ visits, lab, glasses, pharmacy bills), and receive a tax credit of  15%. Keep your tax number at hand!

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Foreign Vehicles to pay tax

NALLE logo-red 30%Starting January 2015, Portugal will begin taxing tax foreign-registered vehicles that circulate in the country for more 6 months. In related automotive news, petrol tax will increase from €0.05 – €0.65 per litre as of 01 January, diminishing the impact of decreasing petroleum Prices.

Increase of Vehicle Tax (ISV)

NALLE logo-red 30%ISV (Road Tax) rates are aggravated due to carbon dioxide emissions.

On top of that, there is bad News for Taxi Drivers: Taxis will also be penalised for excessive CO² emissions.

Portugal lags in Urban Renewal in the EU

NALLE logo-red 30%Despite noticeable growth in recent years, the rehabilitation of aging urban centres accounts for just 7% of construction and public works in Portugal. This compares with an average of 36.8% throughout the EU and 25% in neighbouring Spain.

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