Portugal: Parliament rejects 2022 Budget Bill
On 27 October 2021, the Portuguese parliament rejected the government's 2022 budget bill (Bill 116/XIV/3). The draft bill was submitted in parliament on 11 October 2021 and includes various tax-related measures, including revised personal income
See MorePortugal introduces corporate tax credit due to COVID 19
On 11 October 2021, the Portuguese government submitted the draft budget for 2022 to the parliament. The main corporate tax measures include: The 2022 draft budget changed the patent box regulation, which provides for an increase in the
See MoreOECD: Peer review reports under BEPS Action 14
On 15 April 2021 the OECD released peer review assessments under Action 14 of the project on base erosion and profit shifting (BEPS) which aims to make dispute resolution mechanisms more effective. These stage two monitoring reports relate to
See MorePortugal publishes new CIT return form
Portugal has approved Order no. 314/2021 to update the corporate income tax (CIT) return forms (Modelo 22) considering legislative changes made in 2020 and the need to introduced improvements in the
See MorePortugal: Madeira region is planning to reduce CIT rate to 14.7%
Portugal's Madeira regional government is planning to cut down the corporate income tax (CIT) rate from 20% to 14.7%. The CIT rate reduction is considered as part of the regional budget plan for
See MorePortugal publishes Supplementary 2020 Budget
On 24 July 2020, Portugal published Law No. 27-A/2020 in the Official Gazette and entered into force on 25 July 2020. The law provides for the Supplementary 2020 Budget and an economic and social stabilization program in response to the
See MoreDAC6 Updates: Optional deferral of DAC6 reporting deadlines
On 24 June 2020, the European Council reached agreement on an optional 6-month postponement to the reporting deadlines for relevant taxpayers under EU Directive 2018/822 (DAC6), and a delay to the exchange of information under
See MorePortugal extends transfer pricing documentation deadline
On 24 April 2020, the government of Portugal published an order n.º 153/2020-XXII postponing the deadline to prepare and submit transfer pricing documentation to 31 August 2020 due to COVID-19
See MorePortugal: Emergency tax measures amid COVID-19 outbreak
On 9 March 2020, the Government of Portugal issued Order no. 104/2020-XXII to introduce several tax measures in response to the COVID-19 pandemic. The key tax measures are following: Extended the deadline for first installment of special payment
See MorePortugal deposits MLI ratification instrument
On 28 February 2020, Portugal deposited its ratification instrument for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). The MLI will enter into force for Portugal on 1 June
See MorePortugal publishes revised version of draft legislation on DAC6
On 31 January 2020, the Government of Portugal published revised draft legislation to implement the European Union (EU) Directive on the mandatory disclosure and exchange of cross-border tax arrangements (DAC6). The final law is expected to be
See MorePortugal: Draft bill to implement ATAD1 and ATAD2
On 30 January 2020, a draft bill was presented to the Parliament for the execution of the hybrid mismatch rules of the EU Anti-Tax Avoidance Directive and the Directive as amended (ATAD1 and ATAD2). This consists of measures to counter hybrid
See MorePortugal: Administrative Court issued a decision on Transfer Pricing case
On 10 October 2019, in the case of : n.º 511/2018-T, the Administrative Court issued a decision on the sale of raw materials and goods by a company to related parties. In particular, concerning an undervalued controlled transaction tested using
See MorePortugal legislates EU Directive on Dispute Resolution
On 19 September 2019, the Portuguese Official Gazette published a Law no. 120/2019, the new law establishes dispute settlement mechanisms involving the competent authorities of Portugal and other Member States of the European Union as a result of
See MorePortugal publishes changes to various Tax Codes
On 18 September 2019, the Portuguese Government officially published the Law no.119/2019. The new law has changed the following provisions: Corporate income tax: The procedure whereby non-resident companies may waive all or part of the
See MorePortugal implements EU Directive on Dispute Resolution
On 12 August 2019, the Portuguese Parliament has approved the bill to transpose Council Directive (EU) 2017/1852 of 10 October 2017, which includes measures to ensure effective resolution of disputes concerning the interpretation and
See MorePortugal approves amendments to the TP rules
On 19 July 2019, the Portuguese parliament approved Law No. 180/2019, which includes amendments to the country's transfer pricing (TP) rules. The new law changes the following rules: Abolishing the hierarchy in the selection of the transfer
See MorePortugal approves MLI
On 21 June 2019, the Portugal's parliament approved the resolution for the ratification of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). After the ratification process,
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