Publications - Tax
Currency fluctuations and their impact on corporate taxation in Latin America, a key issue for investment in the region
In a region long known for volatility in exchange rates, whether or not tax accounting can be kept in foreign currency and how exchange differences are treated for tax purposes are crucial matters for multinationals operating all over the continent…
Portugal: VAT obligations amended by the State Budget Law for 2022
Following the entry into force of the State Budget Law for 2022 (Law no. 1272022, of 27 June) on 28 June, we highlight the following changes on VAT matters.
Personal income tax filing season: a few principles to be considered on determining transfer value in sales of unlisted shares
Several courts have pronounced on the special pricing rule for transfers of unlisted shares and in particular on how to apply the rule to transfers of shares in dormant or newly created companies. They have also pronounced on the burden of proof in…
Tax Newsletter - May 2022
Portugal: The new Large Taxpayers list was published
By Order 7048/2022, of 27 May, issued by the Portuguese Tax Authorities’ General Director, it was published the new list of taxpayers whose tax situation should be followed by the Unit of Large Taxpayers ("Unidade dos Grandes…
Latest COVID-19 related regulations and policies in China
Due to the ongoing situation of COVID-19 in China, especially in Shanghai, the Chinese government has introduced more regulations and policies or extended the deadline of the previously issued regulations and policies to further support both the…
Portugal: Postponement of the deadline to submit the Modelo 22 return and extension of the exceptional recognition of PDF invoices
The Government approved, through Dispatch n.º 49/2022-XXIII, of May 24, the following measures.
Tax on increase in urban land value: determinations by the courts and the DGT on timing effects of constitutional court judgment voiding the tax
Directorate General for Taxes and courts examine timing effects of constitutional court judgment of October 26, 2021 and entry into force of Royal Decree-Law 26/2021 of November 8, 2021 amending the legislation to adapt it to the Constitutional…
Tax Newsletter - April 2022
Portugal: New contribution over disposable plastic and aluminium packages from meals ready to consume
This new contribution will have to be charged as of 1 July 2022 over plastic or multi-material with plastic packages and in 2023 over packages made of aluminium or multi-material with aluminium.
In judicial review proceedings, expert reports prepared by public officials do not have greater value than those produced by the applicant
Supreme Court holds that where the government is party in a proceeding, expert reports prepared by its public officials to defend its interests cannot be presumed objective and impartial.
Tax Newsletter - March 2022