Latest news and stories about expat finances in government in Lisboa, Portugal for expats and residents.
Observador reports that over the past decade foreign taxpayers in Portugal have become younger and increasingly receive family benefits, with concentrations now in the Lisbon, Faro and Setúbal districts. The shift affects benefit patterns and local public-service demand in those regions. Those advising immigrant households or working in local administrations should note the changing demographic and benefit profile.
Economist Ricardo Reis predicts that inflation will peak between 3% and 3.5% following his participation in the ECB Forum in Sintra.
This Tuesday features key economic updates including INE's June inflation estimates, the deadline for IRS tax filings, and the second day of the European Central Bank's annual forum in Sintra.
Portugal is seeking to enhance its appeal to Middle Eastern investors, particularly from Qatar, by shifting its marketing strategy beyond just its favorable climate. In Doha, representatives from Startup Portugal are engaging with local entrepreneurs to promote investment opportunities in the country.
In her opening speech at the ECB Forum in Sintra, Christine Lagarde guarantees that the European economy is more resilient to shocks and, therefore, any “adjustments” to interest rates will be “measured”.
The president of the European Central Bank (ECB), Christine Lagarde, rejected this Monday that the 25 basis point interest rate hike at the institution's last meeting served as a “safety” measure, justifying that keeping rates constant would have left inflation above 2% next year and in 2028. “There were those who characterized the...
The President of the European Central Bank (ECB), Christine Lagarde, believes that monetary policy has entered a new phase, returning to the “essentials”, after the response to crises over the last decade and a half involved the use of unconventional instruments, such as debt purchasing. “In the last 15 years, a context of extraordinary pressures required responses...
The Minister of Finance stated this Friday, June 19, that the Government will “move forward shortly” with the reform of tax justice, specifically with a review of tax rates. During a speech at the Franco-Portuguese Economic Conference in Lisbon, Joaquim Miranda Sarmento highlighted necessary measures to address the country's main constraints, namely in human capital, bureaucracy, and the labour market. Regarding fiscal simplification, he indicated that the reform of tax justice and tax litigation will proceed shortly, including a review of rates. Furthermore, he highlighted the reform of the State to “extinguish and reduce the number of entities, but above all to combat bureaucracy, and in those entities where” there is “perfect awareness that they are a bureaucratic problem, such as the APA [Portuguese Environment Agency], ICNF [Institute for Nature Conservation and Forests], IRN [Institute of Registries and Notaries], and CCDR [Commission for Coordination and Regional Development].” The minister also signalled the need to continue reducing marginal IRS (personal income tax) and IRC (corporate income tax) rates, noting that even though they are no longer the highest in the OECD, they are “still quite high.” For this year, Miranda Sarmento emphasized that, “despite all the difficulties,” it will be possible to achieve “growth of around 2% of GDP, well above the Eurozone average,” a balanced budget, and continued reduction of public debt. At this conference, focused on relations between Portugal and France, the minister listed examples of investments in Portugal, such as BNP Paribas and Natixis, projects which, as a whole, “are critical to the Portuguese economy.” The banking sector is “another success story,” he added, pointing out that “15 years ago the banks were in a very difficult situation; today they are resilient, well-capitalised, profitable, and proof of this was the purchase of Novo Banco by BPCE.” Miranda Sarmento: tax revenue shows that Portugal is doing better than people say. IRS and IRC reductions “are to be implemented,” guarantees the Secretary of State for the Budget.
The Minister of Finance reaffirmed this Monday the Government's intention to lower income tax (IRS) again, stating that a reduction in 2027 will only be decided after reviewing the performance of the economy and public accounts. During a conference in Lisbon, Joaquim Miranda Sarmento said that it is important to continue reducing...
The leader of Chega also proposes a maximum pension cap of 4,500 euros.
On the day the Prime Minister travels to Porto, where he meets with the mayors of Porto and Lisbon, the Bank of Portugal publishes its behavioural supervision report and the National Statistics Institute releases a survey on the financial situation of families for 2024. Also, Sonaecom presents its first-quarter results.
The Constitution of the Republic turns 50 this Thursday, with Público highlighting that half of the Portuguese population identifies with it, while only 10% do not. A study by the IPPS-Iscte institute, authored by Pedro Adão e Silva and Isabel Flores, reveals that 58% of respondents believe the Constitution should be revised, particularly to criminalise illicit enrichment and reduce the number of MPs. Meanwhile, Jornal de Notícias and Correio da Manhã report that due to lower tax withholding rates, many taxpayers will receive smaller refunds or will have to pay additional income tax this year. Additionally, Correio da Manhã reports that former minister Mira Amaral was arrested by the police on suspicion of domestic violence at a clinic in Lisbon, an allegation he denies.
Sarmento claims victory, but knows he had the help of measures that have limits: salary increases return taxes to the State and the tax cut increases consumption. Editorial by Marta Moitinho Oliveira.
Executives from major Portuguese banks stated on Tuesday, the 10th, that the sector is prepared for shocks resulting from the war in Iran, citing recent experiences and increased institutional resilience. Leaders from Caixa Geral de Depósitos, Millennium BCP, Santander, BPI, Crédito Agrícola, and Montepio emphasized the importance of risk management, capital liquidity, and adaptability in the face of global volatility, energy price hikes, and potential disruptions to the Strait of Hormuz.
The committee states that some workers have already expressed that they do not have the financial capacity to support a move to Tagus Park in Oeiras and will have to leave the institute.
The Lisbon Tenants' Association also says that the increase from €600 to €900 in the cap on the deduction for rents paid is 'clearly unfavourable to tenants'.
The mayor of Cascais has demanded that the national government reopen the Carcavelos tax office, arguing that restoring local access to tax services is essential for residents and businesses.
Compared to other regions, all except Alentejo (which remained at 77.1%) converged with the EU; the Algarve reached 89.2%, Madeira 88.3%, the Azores 72.5%, the Centre 70.7%, and the North 70.8%.
Purchasing power in Portugal increased to 82.4% of the European average in 2024.
The tax that was applied to electricity producers has been abolished. The Council of Ministers approved on Wednesday the decree-law that ends the competitive balance mechanism, also known as clawback. In a press conference following the Council of Ministers meeting in Sintra, the Minister of the Presidency emphasized that the government ...
The Lisbon Municipal Assembly has approved a measure to fully refund the IRS and set a minimum IMI rate for the year 2026.
Portuguese emigrants affected by last summer's wildfires will be taken into account for compensation for losses in agricultural land, equipment, or other constructions, the government assured in a response to the PS parliamentary group.
The PS in the Lisbon City Council announced on Monday that it will vote against the municipal budget proposal for 2026, presented by the PSD/CDS-PP/IL leadership, which governs without an absolute majority, while Chega keeps its voting intention “open”. According to the Socialist councilors, the municipal budget proposal for Lisbon for 2026 "represents an option ...
Last year, retirees received an average pension of €652. In Lisbon, Setúbal, and Porto, pensions are above the average, while the rest of the country falls below. Workers are retiring with a pension equivalent to 84% of their net salary.
Live coverage: Alexandra Leitão accuses Carlos Moedas of cutting housing funding and making agreements with Chega. Additionally, three candidacies for the Presidency of the Republic have been formalised.
The proposal was approved in a private meeting of the executive. Only the Livre and Bloco de Esquerda parties abstained.
The measure was approved with the votes in favour from the coalition Por Ti Lisboa (PSD/CDS-PP/IL), the PS, Chega, and the PCP, with abstentions from the BE and Livre. A 5% refund of IRS was approved by majority.
The Lisbon City Council approved on Wednesday, by majority, the maintenance of municipal taxes for 2026, namely the full refund of 5% of the Personal Income Tax (IRS) and the Municipal Property Tax (IMI) rate of 0.3% for urban properties. The maintenance of the IMI rate and the refund ...
The General Director of Century 21 in Portugal states that the support measures for young people's home purchases have created an “avalanche” of purchases but have not improved access to housing for those who “really need it.”
The government presented a proposal on Wednesday for a new method of calculating higher education grants. Among the measures is support adjusted to the cost of living in the municipality where students study. "The real cost of living will now be estimated for each municipality with higher education offerings, including expenses with tuition fees, ...
At the end of a visit to Cáritas, the presidential candidate described the current situation in the housing market as “a nightmare”, which “negatively influences people's lives very much.”
