As with the 2005 "Rectification Budget" (RERT I) and the 2010 State Budget Law (RERT II), the 2012 State Budget Law provides for a new Special Regime for Tax Regularisation (RERT III) covering assets held outside Portugal. RERT III applies a new special rate of 7.5% - in place of the 5% rate in RERT II –along identical lines to the earlier regime but providing that it is no longer necessary to repatriate the regularised assets to Portugal.