Legislative authorization to amend the exit taxation rules to conform to EU principles is provided by 2013 Budget Law of Portugal.
A significant change to the exit taxation regime was proposed the tax reform submitted to Parliament on 15 October 2013. The rules in relation to changing the country of residence were proposed to change. The tax return relating to the termination of activity period will have to disclose the assets and liabilities at the date of transfer of residency abroad.
These changes, if approved, will enter into force on 1 January 2014 and will impact group reorganizations.
