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Benefícios fiscais ao investimento, capitalização e sustentabilidade financeira das PME portuguesas
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A presente dissertação tem como objetivo analisar o impacto dos benefícios fiscais no investimento e na capitalização das Pequenas e Médias Empresas (PME) Portuguesas. Pretende-se compreender de que forma estes instrumentos contribuem para o reforço da capacidade de investimento, da capitalização e da sustentabilidade financeira das empresas. Desta forma definimos como questão de investigação “Qual o Impacto dos Benefícios Fiscais nas PME Portuguesas?”. Segundo dados do Instituto Nacional de Estatísticas, as PME constituem 99,9% do tecido empresarial português e, apesar da sua importância para a economia nacional, continuam a registar dependência significativa do capital próprio. Os benefícios fiscais surgem assim, como instrumentos de política pública relevantes para incentivar o investimento produtivo e reforçar a solidez empresarial. Como método de análise foi realizado um inquérito a 100 PME portuguesas e verificou-se que 46% das empresas inquiridas usufruíram de benefícios fiscais na última década, sendo a Dedução por Lucros Retidos e Reinvestidos (DLRR) e o Sistema de Incentivos Fiscais em Investigação e Desenvolvimento Empresarial (SIFIDE) os mais utilizados, com 28% e 29% das empresas a usufruírem, respetivamente, seguidos do Regime Fiscal de Apoio ao Investimento (RFAI) com 21%. Constatou-se, pela opinião dos gestores dessas empresas, que estes benefícios contribuem para o aumento do investimento em ativos fixos, para a expansão da capacidade produtiva e para o reforço da capitalização, promovendo, em última instância, maior sustentabilidade financeira. Conclui-se, assim, que os benefícios fiscais desempenham um papel relevante na consolidação das PME portuguesas e representam uma ferramenta estratégica de apoio ao desenvolvimento económico nacional.
The present dissertation aims to analyse the impact of tax incentives on the investment and capitalization of Portuguese Small and Medium-Sized Enterprises (SMEs). The objective is to understand how these instruments contribute to strengthening investment capacity, capitalization, and overall business sustainability. Accordingly, the research question guiding this study is: “What is the impact of tax incentives on Portuguese SMEs?” According to data from the National Institute of Statistics, SMEs account for 99.9% of the Portuguese business fabric and, despite their importance to the national economy, continue to exhibit a significant reliance on equity capital. In this context, tax incentives emerge as relevant public policy instruments designed to encourage productive investment and reinforce business resilience. As a method of analysis, a survey was conducted with 100 Portuguese SMEs, revealing that 46% of the companies surveyed benefited from tax incentives over the past decade. The Deduction for Retained and Reinvested Profits (DLRR) and the Tax Incentive System for Business Research and Development (SIFIDE) were the most utilized, with 28% and 29% of companies benefiting, respectively, followed by the Tax Regime Supporting Investment (RFAI) at 21%. According to the opinions of the managers of these companies, such incentives contribute to increased investment in fixed assets, the expansion of productive capacity, and the reinforcement of capitalization, ultimately promoting greater financial sustainability. It can thus be concluded that tax incentives play a significant role in consolidating Portuguese SMEs and represent a strategic tool in supporting national economic development.
The present dissertation aims to analyse the impact of tax incentives on the investment and capitalization of Portuguese Small and Medium-Sized Enterprises (SMEs). The objective is to understand how these instruments contribute to strengthening investment capacity, capitalization, and overall business sustainability. Accordingly, the research question guiding this study is: “What is the impact of tax incentives on Portuguese SMEs?” According to data from the National Institute of Statistics, SMEs account for 99.9% of the Portuguese business fabric and, despite their importance to the national economy, continue to exhibit a significant reliance on equity capital. In this context, tax incentives emerge as relevant public policy instruments designed to encourage productive investment and reinforce business resilience. As a method of analysis, a survey was conducted with 100 Portuguese SMEs, revealing that 46% of the companies surveyed benefited from tax incentives over the past decade. The Deduction for Retained and Reinvested Profits (DLRR) and the Tax Incentive System for Business Research and Development (SIFIDE) were the most utilized, with 28% and 29% of companies benefiting, respectively, followed by the Tax Regime Supporting Investment (RFAI) at 21%. According to the opinions of the managers of these companies, such incentives contribute to increased investment in fixed assets, the expansion of productive capacity, and the reinforcement of capitalization, ultimately promoting greater financial sustainability. It can thus be concluded that tax incentives play a significant role in consolidating Portuguese SMEs and represent a strategic tool in supporting national economic development.
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Benefícios fiscais Investimento Capitalização Sustentabilidade Tax benefits Investment Capitalization Sustainability
Contexto Educativo
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Licença CC
Sem licença CC