President Promulgates Tax Revisions on Value Added Tax

Friday, 30 October 2026AI summary

💶 Finance 🏛️ Government #vat-tax #tax-law #fuel-taxes #government-policy

President Promulgates Tax Revisions on Value Added Tax — Photo: ECO

President António José Seguro promulgated parliamentary legislation amending the Value Added Tax (Imposto sobre o Valor Acrescentado) code and the excise duty regime. The changes expand the tax rules that apply to liquid fuel distributors across the country. Seguro warned that the government must fulfill European Union procedural requirements by securing formal clearance from the European Commission.

Context & Explainers

President of Portugal (since March 9, 2026)
Party: Independent. Former leader of the Socialist Party (PS), Partido Socialista
Center-left

António José Martins Seguro (born March 11, 1962, in Penamacor) is a lawyer, political scientist, and the current President of the Portuguese Republic, inaugurated on March 9, 2026 after winning the two-round presidential election in January–February 2026.

Career: He led Socialist Youth (1990–1994), served as MEP (1999–2001), was Minister Adjunct to PM António Guterres (2001–2002), and led the PS parliamentary group (2004–2005). Elected PS Secretary-General in 2011 with 68%, he led the opposition during Portugal's bailout era. In 2014, António Costa defeated him in party primaries by a landslide, prompting Seguro's resignation and a decade-long retreat from politics. He returned in 2025, launching the movement UPortugal and announcing his presidential candidacy in June. He received official PS backing in October 2025 and won the presidency in February 2026.

Political philosophy: Seguro positions himself as representing a "modern and moderate" left, advocating financial responsibility while opposing austerity. As President, he has emphasized institutional trust, efficient governance, and a collaborative relationship with the government while maintaining rigorous constitutional oversight.