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Benefícios fiscais e a capitalização das empresas do Interior de Portugal
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A presente dissertação analisa a influência dos benefícios fiscais na capitalização das Pequenas e Médias Empresas (PME) localizadas no interior de Portugal, com especial enfoque nos distritos de Castelo Branco e Guarda. O objetivo central consiste em compreender de que forma os incentivos fiscais, nomeadamente a Dedução por Lucros Retidos e Reinvestidos (DLRR), a Remuneração Convencional do Capital Social (RCCS) e o Incentivo à Capitalização de Empresas (ICE), contribuem para o reforço dos capitais próprios e para as decisões de investimento das PME. A investigação seguiu uma abordagem quantitativa e exploratória, baseada na aplicação de um questionário a 620 empresas, do qual se obtiveram 86 respostas válidas. Os dados foram analisados através de técnicas estatísticas descritivas e correlacionais, complementadas por revisão documental e enquadramento legislativo. Os resultados demonstram que a maioria dos empresários/gestores inquiridos tem conhecimento sobre os benefícios fiscais, tendo uma parte significativa recorrido a estes instrumentos. Entre os incentivos analisados, o ICE foi o mais utilizado, seguido do RCCS, enquanto a DLRR apresentou menor adesão. Identificaram-se ainda obstáculos como a complexidade administrativa, a insuficiência de informação e a falta de rentabilidade em algumas empresas, fatores que limitam a eficácia dos incentivos. Conclui-se que os benefícios fiscais desempenham um papel relevante na melhoria da estrutura de capital das PME do interior, promovendo maior resiliência financeira e capacidade de investimento. Contudo, a sua efetividade depende da simplificação dos processos de acesso, da disseminação de informação e do reforço do apoio técnico, de modo a potenciar o seu impacto no desenvolvimento regional equilibrado.
This dissertation analyses the influence of tax incentives on the capitalisation of Small and Medium-sized Enterprises (SMEs) located in inland Portugal, with particular focus on the districts of Castelo Branco and Guarda. The main objective is to understand how fiscal incentives—namely the Deduction for Retained and Reinvested Earnings (DLRR), the Conventional Remuneration of Share Capital (RCCS), and the Business Capitalisation Incentive (ICE)—contribute to strengthening equity capital and supporting the investment decisions of SMEs. The research followed a quantitative and exploratory approach, based on a survey administered to 620 companies, from which 86 valid responses were obtained. The data were analysed using descriptive and correlational statistical techniques, complemented by documentary review and legislative framing. The results show that most of the entrepreneurs and managers surveyed are aware of these tax benefits, with a significant proportion having made use of them. Among the incentives analysed, the ICE was the most frequently used, followed by the RCCS, while the DLRR showed lower adoption. Obstacles were also identified, such as administrative complexity, insufficient information, and lack of profitability in some companies—factors that limit the effectiveness of these incentives. It is concluded that tax benefits play a relevant role in improving the capital structure of inland SMEs, fostering greater financial resilience and investment capacity. However, their effectiveness depends on simplifying access procedures, disseminating information, and strengthening technical support, in order to enhance their impact on balanced regional development.
This dissertation analyses the influence of tax incentives on the capitalisation of Small and Medium-sized Enterprises (SMEs) located in inland Portugal, with particular focus on the districts of Castelo Branco and Guarda. The main objective is to understand how fiscal incentives—namely the Deduction for Retained and Reinvested Earnings (DLRR), the Conventional Remuneration of Share Capital (RCCS), and the Business Capitalisation Incentive (ICE)—contribute to strengthening equity capital and supporting the investment decisions of SMEs. The research followed a quantitative and exploratory approach, based on a survey administered to 620 companies, from which 86 valid responses were obtained. The data were analysed using descriptive and correlational statistical techniques, complemented by documentary review and legislative framing. The results show that most of the entrepreneurs and managers surveyed are aware of these tax benefits, with a significant proportion having made use of them. Among the incentives analysed, the ICE was the most frequently used, followed by the RCCS, while the DLRR showed lower adoption. Obstacles were also identified, such as administrative complexity, insufficient information, and lack of profitability in some companies—factors that limit the effectiveness of these incentives. It is concluded that tax benefits play a relevant role in improving the capital structure of inland SMEs, fostering greater financial resilience and investment capacity. However, their effectiveness depends on simplifying access procedures, disseminating information, and strengthening technical support, in order to enhance their impact on balanced regional development.
Descrição
Palavras-chave
PME Benefícios Fiscais Capitalização Empresarial Incentivos Fiscais Interior de Portugal