LISBON:Portugal’s Finance Ministry announced on August 3, 2015, that it expects tax revenues in 2015 to exceed budgetary targets.
Tax revenue increased by 3.8 percent year-on-year in the first half of this year and is expected to grow even more in the second half, the Ministry said. Value-added tax (VAT) revenue grew eight percent year-on-year in the first half, due to economic growth and new measures to combat tax fraud and evasion.
The combined revenue from the personal income tax (IRS) and the value-added tax (VAT) grew 4.2 percent year-on-year in the first half of 2015, exceeding the targeted growth rate of 3.7 percent.
