Accelerate the Economy Program – Learn about the 60 Measures here.

The most relevant measures for companies foreseen in the Accelerate the Economy programme are now known, including the reduction of Corporate Income Tax (CIT). Everything you need to know about the 60 measures to accelerate the Portuguese economy.

A package of 60 measures was approved in the Council of Ministers aiming to stimulate the growth of the Portuguese economy and respond to the specific needs of the 20 strategic challenges identified. Among these measures is the gradual reduction of CIT (IRC) to 15%.

Table of Contents

1. What does the "Accelerate the Economy" programme consist of?

2. Programme Objectives

3. Opportunities for Portuguese Companies

4. Measures by Area of Economic Interest

a) Internationalisation

b) Industry

c) Startups

d) Research and Technological Development

e) Sustainability

f) Training

g) Sea

What does the "Accelerate the Economy" programme consist of?

The "Accelerate the Economy" programme is a government initiative aiming to promote Portugal's economic recovery and growth. Through a set of strategic measures, the programme seeks to strengthen the resilience of small and medium-sized enterprises (SMEs), stimulate innovation and competitiveness, and foster job creation.

Programme Objectives

The 60 measures presented result from the identification of 20 strategic challenges for the Portuguese economy. Based on these challenges, there are 5 main objectives:

1. Scale, Consolidation, and Capitalisation: Foster the growth and scalability of Portuguese companies through the development of an ecosystem where companies can grow individually, in partnership, or via mergers and acquisitions. It is also intended to break the barrier between SME and Large Company status, meaning continued support for companies regardless of their size.
2. Financing: Facilitate access to financial resources through the implementation of measures that provide favourable financing conditions for companies of different sizes and sectors, allowing them to boost their growth and innovation.
3. Entrepreneurship, Innovation, and Talent: Bet on valuing human capital and scientific and technological knowledge, translating it into a practical context in companies' daily lives. Support startups and encourage entrepreneurial culture, focusing on emerging technologies and sustainable innovation.
4. Sustainability: Make sustainability transversal to all companies, through measures that encourage the adoption of eco-friendly practices and the circular economy, contributing to environmental protection and long-term sustainability.
5. Clustering: Develop clusters that promote cooperation between companies, education and research institutions, and governments, increasing competitiveness and innovation in specialisation sectors with the aim of reducing long-term growth stagnation.

Opportunities for Portuguese Companies

The "Accelerate the Economy" programme offers a wide range of strategic measures aimed at boosting the growth and competitiveness of Portuguese companies. This programme brings fiscal measures as well as opportunities in various areas of economic interest. In general and transversally, we highlight the following measures:

Transversal Measures

• Gradual reduction of Corporate Income Tax (IRC) to 15%
• Creation of the VAT groups regime
• Increase in eligibility for the cash VAT regime
• Expansion of access to the "participation exemption" regime
• Tax deduction for capital gains and dividends obtained by individuals in company capitalisation
• Launch of the "State pays in 30 days" plan
• Streamlining of the application analysis process for incentive systems
• Preference for continuous notices with "cut-off" evaluation mechanisms in incentive programmes
• Launch of the "Innovative Suppliers Network" programme
• Reinforcement of financial incentives for "Small MidCaps"
• Revision of the definition of Small Midcap and Midcap

Measures by Area of Economic Interest

Internationalisation

• Programme for the Internationalisation of National Companies and Brands
• Expansion of the Turismo de Portugal Teams Network in External Markets
• Strategic Partnerships Programme for Hospitality and Tourism Schools in the CPLP Context
• Portugal Brand

Industry

• Industry 2045
• Technological industry development programme to support scientific infrastructure
• Launch of the Defence Economy programme

Startups

• Support vouchers for startup applications to international acceleration programmes
• Ignition fund for growing startup projects
• Researchers and teachers in governing bodies or as shareholders of startups
• Facilitation of startup categorisation

Research and Technological Development

• National Innovation Protection Programme
• Revision of the Industrial Property Code
• Implementation of simplified cost models with standardised unit costs for R&D projects
• Facilitation of startup categorisation
• Promotion of support for innovation in blue biotechnology
• Revision of SIFIDE II
• Launch of a deep tech investment fund, focusing on sustainable innovation

Sustainability

• Creation of the "ESG Leader SME" award
• Inclusion of ESG criteria in access to incentives and public procurement
• Acceleration of the circular economy in commerce and services
• Sustainability, Circular Economy, and Climate Agenda Plan for Tourism
• Contribution to the definition of the verification framework for ESG reports

Training

• New talent attraction regime (IFICI+)
• Support for the hiring of PhD holders by companies
• Training Programme for National Technological Innovation
• SME qualification programme and leadership management training

Sea

• Reactivation of the Interministerial Commission for Sea Affairs
• Update of the Satellite Account for the Sea
• Completion of the National Maritime Spatial Planning Plan
• Approval of the National Marine Litter Plan 2024-2028
• Launch of oceanic campaigns
• Action plan to combat Ocean acidification

For detailed information on each of the measures of the "Accelerate the Economy" programme, click here. 

These measures, focused on different areas of intervention, are significant opportunities for Portuguese companies to modernise, innovate, and expand. 

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Last update: 04 July 2024