Continuation of the reduction of the Tax on Petroleum and Energy Products (ISP)

As part of its April 2022 "New measures to contain the rise in energy and agri-food prices" package, the Portuguese government extended its temporary reduction of the Tax on Petroleum Products (ISP) for gasoline and diesel, until the end of 2022 before being gradually phased out in 2023.

The tax reduction corresponds to a 10% VAT reduction (from 23% to 13%), and is applicable to gasoline and diesel.

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