Nuno Filipe Henriques, partner at Caldeira Pires, has published an opinion article entitled “The Tax Policy That Matters Lies Outside the Budget” in Jornal Económico.
In the article, he analyses Portugal’s 2027 State Budget Proposal, which introduces few amendments to the tax codes, with key tax policy decisions instead being addressed through separate legislative instruments and administrative guidance. Focusing on the VAT treatment of urban rehabilitation works, he examines the risks posed by this legislative fragmentation to legal certainty, tax predictability and the planning of businesses and taxpayers.
The article highlights the importance of clear tax rules and predictable tax regimes.