NEWS | Corporate income tax revenue hits record levels and confirms strength of the Azorean economy, stresses Duarte Freitas

The Regional Secretary for Finance, Planning and Public Administration, Duarte Freitas, presided over the closing session of the Local Accommodation Meeting held last Saturday on Pico Island, where he highlighted the positive evolution of the Autonomous Region of the Azores’ economy.

In his speech, the government official stressed that corporate income tax revenue in 2025 reached a record high of more than €83 million. This figure is almost double that of 2019, despite the tax reduction implemented by the PSD/CDS-PP/PPM coalition Government in 2021.

According to Duarte Freitas, these figures “reflect the strength and dynamics of the Azorean economy, which is now more competitive and has a greater capacity to generate wealth.”

“This new economic dynamics stems from tax cuts implemented by this Government, combined with more responsible, rigorous and efficient public management,” he continued.

The presence of the Regional Secretary for Finance, Planning and Public Administration at this meeting confirmed the importance of local accommodation and tourism as strategic sectors for the economic development of the Azores.

GRA/RÁDIOILHÉU