This research investigates the potential of enhancing urban regeneration through the intersection of digital transparency, open government, and tax incentives in Portugal, focusing on its impact on companies from 2015 to 2022. The study employs exploratory analysis and correlation studies to understand the dynamics of a tax incentive policy for urban regeneration. The results suggest a positive correlation between the amount of tax incentives and average reconstruction activities, showing the policy's potential effectiveness in promoting urban development. However, challenges related to digital transparency, complexity, awareness, and industry alignment are identified, prompting recommendations for improvement. Recommendations for enhancing the policy's attractiveness and efficacy are discussed, emphasizing the need for improved dissemination, user-friendly platforms, and industry-tailored incentives. The research contributes valuable insights for policymakers aiming to optimize urban regeneration tax incentives and align them with sustainable development goals.