Portugal has quietly dropped a proposal to raise its VAT rate from 23% to 23.25% on 1 January 2015.
The Portuguese 2015 VAT rise was announced in May 2014 to help meet the bail out requirements of the ‘Troika’, which includes the International Monetary Fund, European Commission and European Central Bank.
Portugal raised its standard Value Added Tax rate in two stages from 19% during the financial and Euro crises.
Source: http://www.vatlive.com/european-news/portugal-drops-2015-vat-rise-proposal/
