Portugal
Ordinance 352/2024, of December 23 2024, regulates the tax incentive regime for scientific research and innovation ("IFICI")
Key Aspects
Main features of Ordinance 352/2024/1 of December 23, 2024:
- Regulates the tax incentive regime for scientific research and innovation (“IFICI”): The IFICI aims to reduce the tax burden on Category A and B income derived from scientific research and innovation activities and qualified jobs. To promote competitiveness and attract talent, it applies a special 20% personal income tax (“PIT”) rate.
- Outlines the registration procedures for IFICI beneficiaries and verification of the eligibility requirements and establishes the obligations for record-keeping and proof.
- Approves the list of highly qualified professions and the industrial and service activities established in article 58-A.1.c) of the Tax Benefits Statute (“EBF”).