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Portugal Business Report
General information
Source: The World Factbook - Central Intelligence Agency
Population
10,355,493 (July 2018 est.)GDP (PPP)
$314.1 billion (2017 est.)GDP growth rate
2.70% (2017 est.)Portugal is recovering from Europen sovereign debt crisis. Growth rate quite high and improving
GDP (PPP) per capita
$30,500 (2017 est.)Medium
Local currency
Euro (EUR)The second most importat currency in the world after the USD
Financial stability (Public debt)
125.7% of GDP (2017 est.)Very high, however a combination of returned GDP growth, low public deficits and a rebound in inflation are slowly lowering the ratio
Inflation
1.6% (2017 est.)Medium-low
Language
PortugueseEnglish is spoken as a second language in the main urban or touristic areas
Corruption perception index (Source: Transparency International)
Rank 30/180Medium level of corruption
Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
23% standard VAT rateReduced rates: 13% (listed food), 6% (listed food, listed entertainment services, pharma, hotel, books, passenger transport, and agricultural products) Autonomous Region of Madeira, and Autonomous Region of the Azores has different reduced rates.
Corporate Tax
21% standard rate17% reduced rate applied to SMEs on the first 15,000€ (12.5% if located in the inland regions); 3.9% regional corporate tax rate applies on a wider tax base
Duties
European Union customs duties/import tariffs applyWhether you are looking for a European importer or you are just interested in Europe business, Globartis is the right platform for you!
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