Portugal Tax News
Multilateral action between United Kingdom, France, Germany, Italy and Spain to counter tax evasion
Heavy restrictions on capital movements enter into force
Netherlands Supreme Court: Reinvestment reserve taxable in Netherlands also if a company had its place of effective management in Luxembourg at time of sale of immovable property located in Netherlands
Portugal approves new rules on Large Taxpayers Unit and criteria to define large taxpayers
Treaty between Norway and Portugal enters into force
Protocol between Portugal and Singapore re exchange of information – details
Treaty between Norway and Portugal – clarification re current status
Government Council adopts amendment to exit tax provisions on capital gains to implement National Grid Indus decision
Budget Law for 2013 – Tax benefits
Budget Law for 2013 – Tax administration
Court of First Instance Bruges decides that non-deductible part of the foreign dividend deduction can be included in loss carry-forward
Budget Law for 2013 – Corporate income tax
Treaty between Cyprus and Portugal signed
Supreme Court: Business merger facility not applicable to contribution to subsidiary followed by subsequent contribution to grant daughter company of all assets except a business building
Treaty between Peru and Portugal signed
Tax amendments approved
Treaty between Uruguay and Portugal enters into force
Treaty between Portugal and Panama enters into force
Netherlands Supreme Court decides that Dutch thin capitalization provisions in the case of financing companies are not incompatible with ICCPR and ECHR
Court of First Instance Leuven decides that fine imposed by European Commission due to violation of EC competition law is not deductible
Treaty between Portugal and United Arab Emirates enters into force
Tax agreement between Hong Kong and Portugal enters into force
Treaty between Norway and Portugal enters into force
Supreme Court decides interest paid on debt-claim towards low-taxed group company resulting from transfer of immovable property not deductible
Protocol to treaty between Portugal and Switzerland signed and details
Protocol to treaty between Luxembourg and Portugal enters into force – details
Tax agreement between Hong Kong and Portugal – details
Budget for 2012 – direct taxation: Amendments
List of tax havens amended
Proposal on new austerity measures – announced The Minister of Finance announced, on 31 August 2011, that a proposal for new austerity measures will be shortly presented to the Parliament. The new austerity measures, which would be effective only for the year of 2012, include:
Unify Your Processes
Simplify Compliance
Empower Your Team