Lisbon, Dec, 30, 2025 (Lusa) - The Portuguese State collected €57.25 billion in tax revenue from January to November, an increase of 6.5%, according to the budget execution summary released on Tuesday.

The pace of growth in accumulated revenue accelerated in November, allowing 90.4% of the tax revenue forecast for the whole of 2025 (€63,370.9 million, according to the figure projected by Luís Montenegro's government) to be achieved in the first 11 months of the year.

In direct taxes (notably personal income tax and corporate income tax), the State collected €24.38 billion up to November, 3.7% more than in the same period in 2024, according to the summary of execution published by the Budgetary Authority (EO, a service of the Ministry of Finance that succeeded the former Directorate-General for the Budget).

In personal income tax, the state collected €16.31 billion, 8.5% more than in the first 11 months of the previous year, thereby already fulfilling 98.2% of the revenue forecast for the whole of 2025 for this tax.

In terms of corporate income tax (IRC), the State collected €7.76 billion, 3.8% less than in the same period last year.

In indirect taxes, which include VAT, ISP and IUC, revenue totalled €32.87 billion up to November, an increase of 8.8% compared to the same period in 2024.

Tax revenue from the series of public administrations, which includes not only the state, but also autonomous services and funds, social security and regional and local administrations, totalled €64.15 billion in the first 11 months of the year, up 6.8% year-on-year.

The €4.10 billion increase in revenue "was based on the evolution of State revenue, in particular VAT (9.6%) and personal income tax (8.5%), with significant increases also recorded in ISP (9.3%) and tobacco tax (8.2%), while corporate income tax showed a decline (-3.8%)," according to the Budgetary Authority.

PCT/ADB // ADB.

Lusa