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.