On 23 October 2026, Portaria No. 467-A/2026/1 revised and fixed the unit tax rates for the Tax on Petroleum and Energy Products (ISP) applicable from 23 October 2026. This monthly adjustment mechanism, governed by Law No. 12-B/2026, tracks international crude oil price movements and EUR/USD exchange rates to maintain fiscal neutrality while ensuring revenue stability. The October update reflects a 2.3% increase in the Brent crude benchmark and a slight euro depreciation, resulting in marginal rate increases for gasoline (+€0.004/litre), diesel (+€0.003/litre), and LPG (+€0.002/kg). The Portaria also updates the carbon tax component embedded in the ISP, aligned with the EU ETS2 extension to road transport fuels. Fuel distributors and tanker operators must update their excise accounting systems and pump prices by 00:00 on 24 October 2026 to avoid discrepancies in the monthly ISP settlement declaration (Model 22-ISP).
Key Takeaways
- Monthly Revision Cycle: ISP rates are now adjusted monthly (previously quarterly), requiring agile ERP configurations for tax determination at the point of dispatch.
- Carbon Component Transparency: The carbon levy is now shown separately on the ISP settlement form, facilitating future EU Carbon Border Adjustment Mechanism (CBAM) reporting for fuel importers.
- Regional Differentiation: The Azores and Madeira maintain reduced ISP rates under their fiscal autonomy statutes; the Portaria publishes separate tables for each region.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement