Meteorologia

  • 08 SEPTEMBER 2024
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15º
MIN 15º MÁX 26º

Government says it will create tax incentives for investment in shares

The Secretary of State for the Treasury and Finance said today that the Government will create tax incentives for investment in shares and debt of Portuguese companies, but without detailing how it will do so and when they will be put into practice.

Government says it will create tax incentives for investment in shares
Notícias ao Minuto

12:29 - 23/05/24 por Lusa

Economia Finanças

At the opening of the annual conference of the Portuguese Securities Market Commission (CMVM), João Silva Lopes spoke about the Government's program (PSD/CDS-PP, which took office in early April) and said that the executive will provide favorable conditions, including tax incentives, for investment in the capital market.

Among the measures, he said that he will strengthen tax benefits for investors who invest money in debt and shares of Portuguese companies and create incentives for Portuguese companies to go public.

He also stated that he will create favorable tax regimes for innovative companies, research and development, and internationalization.

On the sidelines of the event, when asked about when the measures will be detailed and implemented, the minister declined to make any statements to journalists.

Also in his speech, João Silva Lopes considered that the main problem of the Portuguese economy is the "anemic growth" of the last 25 years, due to lack of competitiveness and productivity, and that without further growth "there are no better salaries".

The opening of the conference entitled 'Digital, energy, demographic transformation - the role of the capital market' was given by the president of the Portuguese Securities Market Commission (CMVM), Luís Laginha de Sousa, who considered that, despite the flaws, there is still no better system than the capital market that "brings together advantages for both companies and investors" and that the challenge in Portugal is how to develop this market.

Laginha de Sousa also cited a recent CMVM study according to which securities markets "are a competitive alternative for long-term savings".

The study analyzes 25 years (1996-2021) and concludes that the net return (after commissions, taxes, and inflation) of a cash investment would be higher in funds that replicate the PSI Geral index than in bank deposits and in public debt.

Laginha de Sousa also considered that the "return could be more expressive if the PSI index integrated sectors of great dynamism [of the Portuguese economy] that are unfortunately not represented".

Read also: Problems with IRS annexes? Government denies "anomalies or constraints" (Portuguese version)

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