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This rule sets an exemption, up to €40,000, to the PIT applicable on capital gains deriving from the acquisition of participations on stock option plans, subscription plans, allocation plans or equivalent, provided that (i) they are earned by workers of companies qualified as micro or small companies, accordingly to Decree-Law n.º 372/2007, of November 6th, (ii) those companies have been created in less than 6 years and (iii) develop their activity in the technology sector, in terms to be defined by Ministerial Order. 

Therefore, in order to comply with such rule, the Ministerial Order now published defines “companies of the technology sector” as any company that develops activities of research and development (R&D), internally or in collaboration, in order to create new and better products or services and processes. 

There are qualified for recognition as a company of the technology sector the companies that present, in the period prior to the recognition request, an investment in research and development (R&D) equivalent to at least 7,5% of the turnover, or the companies with no more than 3 years, provided that they are incubated in an incubator certified or recognized by IAPMEI (Institute of Support for Small and Medium-sized Companies and Innovation). 

The recognition of the entity as a company of the technology sector is of the competence of the Nacional Innovation Agency.