The Portuguese Government presented the Government Budget proposal for 2009 to the President of the Parliament. Some parts of the Proposal, but not all, had been announced previously by the Prime Minister. The Portuguese Government declared that the Budget intends to support citizens and Companies in Portugal. The contents of the Budget is not yet approved, however, some of the proposals deserve special attention :

• To increase the deadline period from 2 to 3 years for home owners to reinvest any proceeds from the sale of property (provided such property is owner occupied habitation);
• To reduce the VAT amount to 5% on child car seats and on any maintenance and repair services provided in relation to equipment used by disabled people;
• To protect the property inheritance of the families, setting up the possibility of the debt families to alienate their property to a fund or society, substituting the responsibilities with the bank mortgage by renting the property paying an inferior value, maintaining an option of purchase on the property that they are renting .
  

Plus, in relation specifically to commercial enterprises, please note the following Budget Proposals- :

• To decrease Company Tax (IRC) for the first 12.500 Euros of taxable profit;
• To decrease the twice yearly payments on account for Company Tax;
• To make available credit facilities line for the Small and Medium Companies (valued at 1000 million euros).
  

Please note that the points mentioned above are not yet approved and so are not yet applicable, however, the finer detail of the Proposal is soon to be discussed and the Assembly of the Republic are due to consider its approval at the beginning of November 2008.