Executive appreciates renewal of tax exemptions for economic agents
17 Dec 2021
The extension of the exemption from municipal taxes for establishments and agents of the economic fabric of the city, currently in force until the end of the year, will be voted at next Monday's City Council meeting.
The document signed by Porto's City Councillor of Commerce, Ricardo Valente, proposes the extension of the exemptions in force for an additional period of six months, between January 1 and June 30, 2022, and intends to relieve the commercial sector of the payment of municipal fees for occupation in fairs and markets, as well as the total exemption of the rents owed by traders who are tenants of municipal buildings, as well as of spaces intended for storage.
Recalling that the pandemic has caused "high social and economic constraints, primarily for the protection of public health of communities, conditioning and limiting some sectors of the city's economy in terms of normal operation and continuation of activities", Ricardo Valente believes that the proposed measures work as "mitigation of the losses incurred" by establishments.
The allocation of this tax benefit to the economic fabric of the city will mean that the City of Porto will give up a revenue of around 624 thousand euros.
The proposal of the City Councillor of Commerce also determines that guidance is given to municipal companies Domus Social and Porto Vivo, SRU to adopt similar measures for the real estate assets under their management.
In addition to the exemption from the payment of municipal taxes, since April, Porto's economic agents are also free from the payment of obligations related to advertising through illuminated or non-illuminated billboards and advertisements.
