The Portuguese tax authority (PTA) issued Ruling No. 21788 on 31 January 2025, announcing that a Portuguese non-resident individual is not liable for capital gains tax in Portugal on the sale of shares in a foreign company with assets in the

Peru’s Congress has extended reduced VAT rates for hotels, restaurants, and tourist accommodations until 31 December 2027. The rates will remain at 8% for 2025 and 2026, before increasing to 12% in 2027. The measure, introduced under Law 32219,

On 23 January 2025, officials from Panama and Peru met to discuss strengthening economic and trade relations, including negotiating an income tax treaty. The income tax treaty between the two countries would eliminate double taxation and prevent

The Portuguese Tax Authority has issued Circular Letter No. 20273/2025 on 22 January 2025, outlining the municipal surcharge rates for corporate tax in fiscal year 2024. The circular introduces several key provisions, including: Lower

Peru has issued Superintendency Resolution No. 000304-2024/SUNAT on 30 December 2024, outlining the filing deadlines for annual tax returns for the 2024 tax year. For taxpayers covered by Law No. 31940, the filing deadlines range from May 26 to

Portugal's tax authority has introduced new tables for the calculation of progressive property transfer tax (IMT) on 10  January 2025.This new tax rate is effective from 1 January 2025. These updated tables apply to property acquisitions