Portugal is the third worst country in the OECD in terms of fiscal competitiveness and has worsened its overall score prepared by the Tax Foundation and the Instituto + Liberdade think tank, according to a report by Jornal de Negócios.

Taxation on companies – which is considered to be very high -, the limit on the amount of tax losses that companies can write off against future profits and the different VAT rates are considered the three main difficulties in the country.

Still in terms of fiscal competitiveness, Estonia is the best-placed country on the list analysed, with the report highlighting the “20% corporate tax, applied only to distributed profits”, followed by Latvia. As for the overall score, Portugal went from 53.3 points to 51.5 points on a scale of 100 possible points, which places the country in 36th position.