Portugal raises VAT 2% to 23% from January 2011

Fri 1st Oct 2010

Portugal has put forward a further Portuguese VAT rise, raising VAT in 2011 to 23%.

This follows a 1% VAT rise in Portugal July 2010.

Portugal is struggling to manage a ballooning deficit, and is having to meet tough terms of the European Union, European Central Bank and International Monetary Fund bail out.