Minimum tax to be applied to all multinationals operating in Portugal

The government has approved in its Council of Ministers to apply a minimum 15% tax on all multinationals operating in Portugal. As reports have explained, the decision comes as a result of a European Directive, and is aimed at companies with turnovers in excess of €750 million. In practice, the law (which needs to be ratified by parliament) will oblige large companies to pay taxes that they are not currently paying in Portugal, minister for the presidency António Leitão Amaro has explained – without being able to give an estimate of the revenue that will follow.