The 2023 Budget proposal was submitted to the Portuguese Parliament on 10 October. This follows the 2022 Budget, which was published in June after elections in January. In general, the government is focusing on increasing companies’ competitiveness by fostering equity and supporting increased costs resulting from current world economic conditions. One of the Budget’s most impactful tax measures is a new tax framework for crypto assets.
The Portuguese Parliament currently is discussing the 2023 Budget proposal. Given the government’s parliamentary majority, the proposed tax measures are expected to be enacted. However, amendments and new tax measures may be added following party negotiations and hearings of relevant public and private institutions and organisations.