Contractual Tax Benefits for Productive Investment


SMEs and Non-SMEs, as defined in the Commission Recommendation 2003/361/EC of 6 May, considered taxable for Corporate Income Tax and framed in the following economic activities:
  • Accommodation – 55;
  • Restaurants and similar – 56;
  • Activities of interest to tourism – 77210, 90040, 91041, 91042, 93110, 93210, 93292, 93293 and 96040.

Types of Operation

  • Investment projects with relevant investments (‘) of an amount equal to or greater than 3 million euros.
(*) Relevant investments consist of investments in tangible fixed assets, acquired new and assigned to the implementation of the investment project, and in intangible assets, composed of technology transfer costs, provided that they are assigned to the operation of the business. In the case of Non-SMEs, intangible assets may not exceed 50% of the total relevant investments.

Main conditions of access


  • Not to be indebted to the State and Social Security:
  • Taxable profit cannot be determined by indirect methods;
  • they must demonstrate a financial autonomy ratio equal to or greater than 0,2;
  • they are provided with equity capital or external financing in a form that is free of any public support, amounting to at least 25 % of the eligible costs.


  • take the form of a project relating to the setting-up of a new establishment, the extension of the capacity of an existing establishment, diversification of the output of an establishment into products not previously produced in that establishment, or a fundamental change in the overall production process of an existing establishment;
  • have not been started before the date of submission of the application;
  • Demonstrate technical, economic and financial viability;
  • create or maintain jobs;
  • Demonstrate compliance with at least one of the following conditions (i) being relevant to the strategic development of the national economy; (ii) being relevant to the reduction of regional asymmetries or (iii) contributing to boosting technological innovation and national scientific research, to improving the environment, or to strengthening competitiveness and productive efficiency;
  • Non SMEs located in the regions of Algarve, Greater Lisbon and Setúbal Peninsula, can only access the tax benefit if the investments in tangible and intangible fixed assets are related to the creation of a new establishment, or to the diversification of the activity of an establishment, on condition that the new activity is not the same or a similar activity to the one previously carried out in the establishment.

Conditions of the tax benefit

  • Tax credit ranging between 10% and 25% of the relevant investment project applications actually made, to be deducted from the amount of the IRC collection;
  • Exemption or reduction of IMI, during the term of the contract, in respect of the buildings used by the promoter for the investment project;
  • Exemption or reduction of IMT, regarding the acquisition of buildings included in the investment plan and carried out during the investment period;
  • Exemption from stamp duty in respect of all acts or contracts necessary to carry out the investment project.


The application for the tax benefit must be made to one of the following entities:
a) AICEP, E. P. E., when the investment projects fall under the contractual investment regime set out in
b) IAPMEI, I. P., in all other cases.

This information does not relieve a careful reading of the Investment Tax Code and the information leaflet.

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