Portuguese government launches unit to monitor U-TAX tax benefits

One of the tasks of the future division will be to reduce tax benefits in Portugal.

Source:https://www.publico.pt/2023/12/07/economia/noticia/governo-lanca-unidade-tecnica-monitorizar-beneficios-fiscais-2072897

The structure is called the Technical Unit for Tax and Customs Assessment (U-TAX), whose mission is to “ensure the assessment of tax policies and in particular tax incentives,” the Council of Ministers said in a statement.

Portugal has more than 500 tax breaks, the value of which, calculated as the tax expenditure incurred by the government from lost revenue, is around 17,300 million euros, according to the government’s latest tax expenditure report for 2022.

One of the tasks the new division will be responsible for will be evaluating incentives to reduce costs associated with tax breaks.