Corporate tax tops €10 billion for the first time – 25% more than expected

Revenue from Corporate Income Tax (IRPJ) exceeded all expectations in 2024 and exceeded €10 billion for the first time.

By TPN/Lusa, in News, Business, Portugal · 03 Feb 2025, 09:02 · 2 Comments

Credits: Supplied Image; Author: Client;

According to data released by the General Budget Coordination (DGO), the State collected a new maximum amount with the tax that is levied on corporate profits – and 25.5% more than expected.

Tax collection from IRC increased by 17.7% in 2024 compared to the previous year, being the tax (direct and indirect) with the largest annual increase. This brought 10,223.1 million euros into the State's coffers, the highest amount since at least 1990.

More in News

ModaLisboa returns to the capital

In News, Portugal, Lisbon, Events - 06 Mar 2025, 16:02

Coimbra craft beer festival

In News, Portugal, Events, Food & Drink, Central - 06 Mar 2025, 15:02

€4,000 support for going electric

In News, Portugal, Business, Environment - 06 Mar 2025, 14:02

Comments

Corporate tax is, at best, an illusion.
Those costs get passed on to the customer by raising prices.
Corporations pay no tax. We pay it for them.

By Shawn from Lisbon on 03 Feb 2025, 15:27

@Shawn.... I think you are confusing Corporate Income Tax and IVA (Value Added Tax)... the ladder is fully paid by the consumer. Companies pay this Tax when they purchase items but they get a credit when they sell their items... net balance is given either to the Government if they collected more then they paid and vice versa. As for the Corporate Income Tax., this is paid off of the profits of the company and not by the consumer. This is the same as Personal Income Tax for individuals which is based on an individual's earnings as is the case with companies.. i.e. also based on a company's earnings. So, I don't understand how you can see that the individual pays the Corporate Income Tax unless you expect the company to provide items and services for free??!! Strange and incorrect comment.

By Eliot from Lisbon on 06 Feb 2025, 14:15