The Portuguese government on January 23 2004 enacted a new investment tax credit targeted at capital and R&D expenditures in the industrial and tourism sectors. Under the new rules, resident companies and permanent establishments of non-resident companies may withhold and set aside up to 20% of their 2003 and 2004 corporate tax liability for certain qualifying investment purposes.
ITR Week welcomes your feedback on this or any other story. Please email the author with your comments. Letters may be published online.