Portugal: Currency devaluation coefficients for 2023 updated
Portugal -
The new currency devaluation coefficients were published to be applied to goods and rights transferred during 2023.
The annually update of the monetary devaluation indexes was approved by Ordinance no. 340/2023, of 8 November, regarding the indexes to be applicable to the goods and rights transferred during 2023, whose value should be updated in accordance to articles 47 of the CIT Code and 50 of the PIT Code, for the purpose of determining the tax base of the referred taxes, in particular regarding capital gains.
The monetary devaluation indexes update takes into consideration the variation of the data published by National Statistics Institute (INE) regarding the Consumer Price Index (with the exception of housing).
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