3 November 2014
Our local associates have advised us that the Portuguese 2015 budget proposal includes a rate increase from 2.0% to 2.5% in respect of the INEM (otherwise known as the National Institute of Medical Emergency). This shall apply to Non-Life and Life policies. We are awaiting further information in respect of:
whether the proposal will be passed.
whether the rate increase relates to specific classes of business or to all classes of business where the INEM is applicable.
the effective date of the rate change.
whether there are any transitional arrangements.
FiscalReps will keep you updated on any developments.