Key Tax Changes
- Personal Income Tax (PIT)
- Reduction of marginal PIT rates by 0.3 percentage points between the second and fifth tax brackets, mainly benefiting middle-income taxpayers.
- Update of PIT tax brackets by 3.5%, exceeding expected inflation and preventing bracket creep.
- Revision of the minimum subsistence threshold, ensuring that the national minimum wage remains exempt from PIT.
- Performance bonuses and productivity awards: continued PIT and social security exemption up to 6% of annual salary.
- Corporate Income Tax (CIT)
- Reduction of the standard CIT rate from 21% to 20% in 2026, with a medium-term target of 17%.
- Reduced CIT rate of 15% on the first €50,000 of taxable profits for micro, small and medium-sized enterprises.
- Housing-Related Tax Measures
- Updated IMT exemptions and thresholds for first-time home buyers and young taxpayers.
- Adjustment of IMT brackets in line with property market developments.
- Reduced PIT rate on rental income for long-term and affordable housing lease agreements.
- Other Taxes and Incentives
- No significant changes to VAT or excise duty rates, ensuring indirect tax stability.
- Enhanced monitoring and evaluation of tax incentives, aiming to improve effectiveness and fiscal transparency.
Accounting and Reporting Changes
- Accounting Obligations and SAF-T
- Postponement of the mandatory SAF-T (Accounting) file, now applicable from 2027, with submission starting in 2028.
- Continued acceptance of PDF invoices throughout 2026, easing the digital transition.
- Inventory reporting remains limited to quantities, with no mandatory valuation for tax purposes.
Conclusion
The 2026 State Budget reinforces a policy of tax relief, business support and simplification of accounting obligations, while maintaining fiscal discipline. Proper tax and accounting planning will be essential to fully benefit from these measures and ensure compliance.
How Nominaurea Can Help
Nominaurea supports businesses and individuals through:
- Detailed analysis of tax changes affecting PIT, CIT and property taxation.
- Strategic tax planning and optimisation for 2026.
- Adaptation of accounting and invoicing systems to new legal requirements.
- Ongoing advisory services in accounting, taxation and financial management.
Nominaurea is composed of a team of certified accountants, tax consultants and human resources technicians, specialized in the Iberian context. Our consultants provide rigorous and comprehensive technical support aligned with the tax realities of Portugal and Spain. With offices in Lisbon and Porto, Nominaurea ensures proximity, expertise and an integrated service in the areas of accounting, taxation and human resources management.
