Fiscal

Garrigues

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  • Portugal Indirect Taxes Newsletter - N.º 2

    This edition covers key indirect tax developments in Portugal in the last months, especially regarding the postponing, from 2024 to 2025, of the extraordinary use of PDF invoices as electronic invoices and the Stamp Duty framework of financial operations carried out between branches and their headquarters.

  • Update of the monetary devaluation coefficients for 2024

    The monetary devaluation coefficients applicable to assets and rights disposed of in 2024 have been published for the calculation of corresponding capital gains.

  • Portugal Indirect Taxes Newsletter - N.º 1

    This edition covers key indirect tax developments in Portugal in the last months, including the potential implementation in 2025 of the VAT groups regime and the uncertain adoption of the ViDA Directive. Also addresses some concerns related to recent rulings issued by the Portuguese Tax Authority on these matters and elaborates on the new atypical agreements trend within the real estate market.   

  • International Tax Review recognizes Garrigues as Firm of the Year in Transfer Pricing and Indirect Tax

    Besides being shortlisted for best firm of the year in all existing categories, Garrigues has been doubly recognized as Firm of the Year in Spain in the categories of Transfer Pricing and Indirect Tax. 

  • Portugal: The extraordinary contribution on local accommodation (CEAL) has been revoked

    Decree-Law no. 57/2024, of 10 September, revokes the extraordinary contribution on local accommodation (CEAL) and adjusts the taxation of capital gains resulting from the transfer of properties intended for own and permanent housing, as well as the taxation of rental income resulting from the lease of properties allocated to the same purpose.

  • Deadline for submitting the annual CIT return (Modelo 22 form) extended to 15th July

    The outgoing Secretary of State for Tax Affairs issued, on the 14th, the Dispatch no. 176/2024 - XXIII extending the deadline for submitting the 2023 CIT return (Modelo 22) from 31 May to 15 July 2024.

  • Portugal: PTA has decided that Advance Pricing Agreements are the suitable mechanism to determine the transfer pricing method and the arm's lengh pricing, under intragroup service agreements

    The Portuguese Tax Authorities (PTA) decided, in the context of a Binding Information Request (PIV) –Case no. 22442–, that this is not the appropriated approach for determining the transfer pricing method nor the arm’s length pricing between related parties under an intragroup service agreement. Instead, PTA considered that entering into an Advance Pricing Agreement (APA) is the suitable mechanism for these cases.

  • Portugal: Municipal surtax rates applicable to 2023 taxable income

    The Portuguese Tax Authority disclosed already the municipal surcharge rates to be applied in 2023 fiscal year by Corporate Income Tax taxpayers.

  • Portugal: Deadlines for communication of inventories, SAF-T accounting and use of invoices issued in PDF have again been extended

    The State Budget for 2024 introduces a new flexibility of the tax calendar with regard to the fulfilment of certain tax obligations.

  • Portugal: Amendment to the scope of the reduced VAT rate applicable to refurbishment works

    Following the publication of the “More Housing Program”, which contains a set of tax measures, the Tax Authority clarifies the scope of the reduced VAT rate for renovation works after said law change.