Publications - Tax
Monthly Stamp Tax Returns submitted with errors may be replaced until the end of June 2021 with no penalties
Considering that the Monthly Stamp Tax Return ("DMIS") became fully operational at the beginning of 2021 and that some doubts still persist that may condition its correct submission, the Portuguese Tax Authority ("AT") has…
Municipal surtax rates applicable to 2020 taxable income were disclosed
Municipal surtax rates were disclosed through Circular Letter no. 20229/2021, of 16 February, to be paid in 2021, due on the taxable income to be determined in regards to the 2020 fiscal period.
First mandatory submission of the Stamp Tax Monthly Return in February 2021
We remind that, after the successive postponements of the implementation of this measure approved by the 2018 State Budget Law (Law no. 114/2017, of 29 December), the Monthly Stamp Tax Return (so-called "DMIS") will have to be mandatory…
COVID-19: Portuguese inventory communication postponed to 28 February 2021
The obligation to communicate inventories to the Portuguese Tax Authority was postponed from 31 January to 28 February 2021 by Dispatch no. 25/2021-XXII, of 28 January.
Self-assessments may be corrected outside the voluntary filing period to claim tax benefits
According to various courts, claiming or not claiming tax benefits is a right not an electable tax option, so taxpayers are allowed to correct their self-assessments even after the end of the filing period for the tax concerned.
The importance of tax residence: These are the rules in Latin America, Spain and Portugal
In this article we describe the factors determining the tax residence of individuals and legal entities or the existence of permanent establishments in the main Latin American countries, and in Spain and Portugal, along with the interpretation…
Spain - General State Budget Law for 2021: Review of the tax measures
Law 11/2020, of December 30, 2020, the General Budget Law for 2021, (LPGE) was published in the Official State Gazette (BOE) on December 31, 2020. It includes numerous measures related to various taxes, which are summarized below.
Portugal: QR Code and IES with previous SAF-T filling postponed to 2022
The State Budget Law for 2021 (Law 75-B/2020, of 31 December) just published confirms the already announced:
DAC 6 – Form approved (Model 58)
The form (Model 58) to comply with the report obligation to the Portuguese Tax Authority (AT) of the so-called "arrangements" was finally approved by Ministerial Order no. 304/2020, of 29 December.
Brexit: UK residents may appoint tax representative until June 2021 with no penalties
Following the United Kingdom withdrawal from the European Union and the end of the transition period on 31 December 2020, it was approved, by Dispatch no. 514/2020.XXI, a transitional regime applicable to UK residents for the mandatory…
DAC 6: Spain transposes the Directive on tax intermediaries
The law transposing Council Directive (EU) 2018/822 of May 25, 2018 amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements (known as DAC 6)…
Transfer pricing: The OECD publishes recommendations addressing the impact of COVID-19 on controlled transactions
On December 18, 2020, the Organization for Economic Cooperation and Development (OECD) published guidance (access here) to clarify and illustrate the practical application of the arm’s length principle in controlled transactions…