Portugal raises VAT 1% to 21%
- May 14, 2010 | Richard Asquith
Portugal has announced a rise in its standard VAT rate from 20% to 21%.
This increase is part of a range of measure introduced to underpin collapsing government revenues following the recent European economic crisis, and financial markets concerns around Portugal’s ability to meet its debt repayments.
This is a reverse of a Portugal VAT 1% cut in the rate in July 2008.