Country Profile: Portugal

Tax to GDP ratio: 36.01

Financial Transactions Tax (FTT): No tax in place

The Portuguese Parliament has approved general parameters for an FTT but a tax has yet to be implemented by the Portuguese government. The proposed tax covers the sale and purchase of the following instruments, shares, bonds, money markets, participation units, derivatives and structured financial products Under the proposed law, the expected FTT rates would be: 0.3% on equities, bonds, money markets, participation units and derivatives and 0.1% on high-frequency transactions

Aviation: Yes – tax in place

  • Domestic and international flights: €2 per passenger
  • VAT on domestic aviation: 6%

Source: European Commission: CE Delft and Directorate-General for Mobility and Transport, Taxes in the field of aviation and their impact – Final report, Publications Office, 2019

Carbon Price: No carbon pricing instrument in place

National carbon tax

  • Coverage: 40% of emissions
  • Price: €8.64 per tonne CO2e
  • Revenue: €448million (US$495 million)
  • Sectors covered: Electricity and heat, Industry, Mining and extractives, Transport, Aviation, Buildings, Agriculture, forestry and fishing fuel use
  • Offsetting: Not permitted

Regional ETS:

  • Coverage: 38% of emissions
  • Price: €57.03 (US$61.30)
  • Revenue: €43,558 million (US$47,369 million)
  • Sectors covered: Electricity and heat, Industry, Mining and extractives, Aviation
  • Offsetting: Not permitted

Source: World Bank, OECD

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