Publications - Tax
Tax Newsletter - December 2021
Extended period for IIT preferential policy of allowances for foreign individuals
On December 31, 2021, the Ministry of Finance and the State Administration of Taxation have decided to continue that the IIT preferential policy of allowances for foreign individuals (e.g. home visit, housing allowance, children’s tuition fee…
China: Extended period for some IIT preferential policies
On December 29, 2021, the executive meeting of the State Council has decided to continue the implementation of some IIT preferential policies as follows:
Spain General State Budget Law for 2022: overview of the tax provisions
The law includes a 15% minimum corporate income tax rate and nonresident income tax rate (for taxpayers with a permanent establishment), a €1,500 cap placed on the reduction for individual pension plans and restrictions introduced for access to…
The European Commission presents its proposed directives to ensure a 15% minimum global tax rate and to counter the misuse of shell companies
These proposals, presented on December 22, 2021, have their respective origins in the work of the OECD and G20, for the implementation of a global minimum tax rate (known as Pillar 2) and in the communication on business taxation for the 21st…
Portugal: Updated to EUR 512 the average construction value per square meter for 2022
Ministerial Order no. 310/2020, of 20 December, was officially published, which sets in EUR 512,00 the average value of construction per square meter, for the purposes of article 39 of the Municipal Property Tax Code, to enter into force in 2022.
Withholding tax rates applicable in 2022 in Azores were approved
The withholding tax rates applicable to employment income (category A) and pensions (category H), obtained by the resident taxpayers of the Autonomous Region of Azores, during 2022, were approved by Order no. 12408-A/2021, of Secretary of State…
Portugal: the value of the IAS for 2022 will be EUR 443.20
The value of the social support index (IAS) was updated by Ministerial Order no. 294/2021, of 13 December. Accordingly, the value of the IAS for 2022 will be EUR 443.20.
Spanish Supreme Court confirms National Appellate Court’s principle: offsetting tax losses is not a tax option
In a judgment delivered on November 30, 2021, the Supreme Court examines whether it is allowed to offset tax losses on a corporate income tax self-assessment filed outside the time limit and concludes that it is. Moreover, according to a…
Tax Newsletter - November 2021
Minimum monthly wage and new withholding tax rates approved to 2022
The Government approved, through Decree-Law 109-B/2021, the increase of the guaranteed minimum monthly wage (“RMMG”) from EUR 665 to EUR 705, to become effective from 1 January 2022 onwards.
Portugal: Amendments to the transfer pricing regime
On 26 November, the ministerial orders no. 267/2021 and no. 268/2021 have been published, reviewing the Advanced Pricing Agreements and the regulation of the transfer pricing regime and revoked, respectively, the ministerial…