The Government has published new regulations under which the Banking Sector Contribution has been revised. The main changes introduced refer to the inclusion of a reference to Portuguese branches of foreign institutions, the revision of the tax base and the increase in the tax rate. As regards this last point, the tax rate was increased to 0.110% from 0.085% (originally 0.05%).

The regulations are available here. You can also see the updated regulations here.

[Photo: Vanessa Lee, available at: unsplash.com]