Business news from Ukraine

Business news from Ukraine

Ukraine exported $212 mln worth of agricultural products to Portugal in 2024

Despite the temporary occupation of part of the agricultural land by the enemy, Ukraine demonstrated good results in the agricultural sector in 2024 and was able to return the historical ways of agricultural exports, and therefore offers the Portuguese Republic to strengthen cooperation, said Vitalii Koval, Minister of Agrarian Policy and Food, at an online meeting with José Manuel Fernandes, Minister of Agriculture and Fisheries of Portugal.

“In 2024, 57% of Ukraine’s agricultural exports went to the EU countries. In total, Ukraine exported agricultural products worth $24.6 billion, including $211.6 million to Portugal,” the Ministry of Agrarian Policy’s press service quoted the minister as saying.

In addition, he emphasized that last year Ukraine returned to its historical ways of agricultural exports, as 86% of agricultural products are exported through Odesa and Danube ports. According to him, Ukraine is actively working to open new markets, particularly in Africa and the Middle East.

Koval urged his Portuguese counterpart to work together to combat the illegal sale of Ukrainian grain to Russia.

The Minister also thanked the people of Portugal for their consistent support of Ukraine and the President’s humanitarian initiative Grain From Ukraine.

, ,

Analysis of taxation system in Portugal

Portugal has a developed and multi-level taxation system covering both individuals and legal entities. Let’s take a look at the main taxes in the country.

Taxes for legal entities include:

  • Corporate income tax (IRC): The standard rate is 21%. A reduced rate of 17% may apply to small and medium-sized enterprises with taxable income of up to €25,000.
  • Additionally, a municipal tax of up to 1.5% and a state surtax of 3% to 9% are levied on profits above certain thresholds
  • Value added tax (IVA): The standard VAT rate is 23%. Reduced rates apply for certain goods and services: 13% і 6%.
  • Dividend tax: Dividends paid to residents are taxed at a rate of 28%. For non-residents, the rate is also 28%, but may be reduced under double taxation treaties.

Taxes for individuals:

  • Income tax (IRS): A progressive scale of rates from 14.5% to 48% is applied, depending on annual income
  • Tax residents are taxed on worldwide income, while non-residents are taxed only on income derived from sources in Portugal at a flat rate of 25%
  • Social contributions: Employees pay 11% of their salary, and employers pay 23.75%.
  • Capital gains tax: Gains from the sale of real estate or other assets are taxed at a rate of 28% for residents and non-residents

Other taxes and duties:

  • Real estate transfer tax (IMT): Applies to the purchase of real estate; the rate depends on the value and type of the property.
  • Municipal real estate tax (IMI): An annual tax whose rate varies from 0.3% to 0.45% for urban properties and about 0.8% for rural properties.
  • Stamp duty: Charged on certain transactions, such as gifts or inheritance of property, at a rate of 10% for recipients who are not direct relatives

Portugal also offers special tax regimes, such as the “Non-Regular Resident” (NHR) status, which provides benefits for new residents, including reduced tax rates on certain types of income. The Portuguese tax system is characterized by progressive and diverse taxes, which requires careful planning when doing business or moving to the country. It is recommended to consult with professional tax advisors to ensure compliance with current legal requirements and to optimize the tax burden.

Source: http://relocation.com.ua/analiz-osoblyvostej-systemy-opodatkuvannia-v-portuhalii/

,

President of Ukraine to arrive in Portugal tomorrow

President of Ukraine Volodymyr Zelenskyy will visit Portugal on Tuesday, May 28, according to the website of the President of Portugal.

It is noted that Zelensky will visit Portugal at the invitation of its President Marcelo Rebelo de Souza and Prime Minister Luiz Montenegro.

“President Zelenskyy’s working visit is part of a common intention to deepen relations between the two countries, with a particular focus on strengthening security and defense cooperation. It will also provide an opportunity to reaffirm Portugal’s commitment to Ukraine’s sovereignty and territorial integrity, as well as to maintaining political, military, financial and humanitarian support for Kyiv,” the statement said.

It is reported that the President of Ukraine will hold working meetings with Prime Minister Luiz Montenegro and President Marcelo Rebelo de Souza.

Portugal and Ukraine preparing security agreement

Deputy Head of the Presidential Office Ihor Zhovkva had a conversation with Diplomatic Advisor to the Prime Minister of the Republic of Portugal, Georges Monteiro, via video link, the press service of the President of Ukraine reported on Tuesday.
Ihor Zhovkva thanked Jorge Monteiro for Portugal’s continued support of our country’s fight against Russian aggression.
“We appreciate Portugal’s practical participation in the tank, aviation and maritime coalitions. It is important that the volume and pace of military support continue to increase,” Ihor Zhovkva emphasized.
In the course of the conversation, the Deputy Head of the Presidential Office informed Georges Monteiro on the situation at the frontline and urgent military needs of Ukraine.
The interlocutors agreed to start negotiations on the conclusion of a bilateral security agreement in pursuance of the joint declaration of the Group of Seven on the support of Ukraine in the nearest future.
Particular attention was paid to Portugal’s support for the Ukrainian peace formula, as well as Ukraine’s European and Euro-Atlantic aspirations. George Monteiro noted Ukraine’s progress in implementing reforms necessary for its future membership in the EU and NATO.
As reported earlier, President of Ukraine Volodymyr Zelenskyy and Prime Minister of Portugal Luis Montenegro instructed to start working on the preparation of a security agreement.

, ,

Ukraine and Portugal preparing security agreement

President of Ukraine Volodymyr Zelenskyy and Prime Minister of Portugal Luiz Montenegro have instructed to start working on a security agreement.

“I had a phone conversation with the newly appointed Prime Minister of Portugal Luiz Montenegro. I thanked him for his personal principled position in support of Ukraine and wished him fruitful work for the prosperity of Portugal,” Zelenskyy wrote on his Telegram channel on Wednesday.

“We discussed the implementation of previous defense agreements between our countries and instructed the teams to begin work on the preparation of a bilateral security agreement within the framework of the G7 declaration. We coordinated future joint contacts,” the president also wrote.

,

Dog from Portugal was recognized as oldest dog in world

A dog named Bobi from Portugal is now officially the oldest dog ever to live on the planet. This achievement was fixed by the representatives of the Guinness Book of Records.
He managed to beat the previous record of the dog-longest living, held for decades.
Bobi is a purebred of Portuguese Raffeiro do Alentejo breed with an average life expectancy of 12 14 years.
The previous oldest dog recognized by the Book was Bluey from Australia, who died in 1939 at the age of 29 years and five months.
As of February 1, Bobi was 30 years and 226 days old, and I must say, he is doing well for his age.
Bobi’s age for the Guinness Book of World Records is confirmed by the Portuguese government’s pet database, which is administered by the National Union of Veterinarians.
Bobi has been a lifelong resident of the Costa family in the village of Conqueiros on the west coast of Portugal, and he was born there as well.
Owner Leonel Costa, who is eight years older than Bobi, says the secret to the dog’s longevity is the peaceful environment around him. Perhaps genes also influenced – Bobi’s mother lived 18 years.
“Between a can of pet food or a piece of meat, Bobi doesn’t hesitate to choose our food,” notes Leonel, who now always soaks the human food Bobi is given in water to remove excess spices.
However, age does take its toll on Bobi, who has mobility problems and vision problems.

,