Portugal: CbC reporting deadline extended
The State Secretary for Fiscal Affairs of Portugal published “Dispatch No. 170/2017/XXI” on 29 May 2017, which has extended the deadline for country-by-country (“CbC”) reporting notifications for fiscal year 2016 further to 31 October
See MorePortugal: DTA with Ethiopia enters into force
The Double Taxation Agreement (DTA) between Ethiopia and Portugal entered into force on 9 April 2017. The agreement provides for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on
See MoreHong Kong: Government signed AEOI agreement with Portugal and South Africa
The government of Hong Kong has signed agreements with Portugal and South Africa for conducting automatic exchange of financial account information in tax matters (AEOI). A Government spokesman said on 03 April 2017 that they have been seeking to
See MoreAndorra, Portugal DTA enters into force
On 23 April 2017, the Double Taxation Agreement (DTA) between Andorra and Portugal will enter into force for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. The treaty generally applies from 1
See MorePortugal ratifies DTA with Andorra
On 26 January 2017, Mr. Marcelo Rebelo de Sousa, the President of Portugal signed a decree ratifying the Double Taxation Agreement (DTA) with Andorra and it still needs to be published in the Official
See MoreFinland: Parliament ratifies DTA with Portugal
The Finnish Parliament on 21 December 2016 approved the income tax treaty between Finland and Portugal. The treaty was signed on 7 November 2016 in Brussels. The new agreement will be replaced by the existing Finland-Portugal Income and Capital
See MorePortugal- Extension of the deadline for filing Country-by-Country reporting notification
The Secretary of State for Tax Affairs’ Office of Portugal published Decree no.254/2016-XXI (dated 12 December 2016) on 15 December 2016 which extends the deadline to submit the mandatory Country-by-Country (CbCR) notification for the fiscal year
See MorePortugal-Parliament approved Budget for 2017
The parliament of Portugal approved the Budget for 2017 on 29 November 2016. The approved Budget introduces a new sugar tax on soft drinks. If certain conditions are satisfied then countries that are not blacklisted will be able to have a more
See MoreAndorra approves DTA with Portugal
On 30 November 2016, the general council of Andorra approved the income tax treaty with Portugal for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. Furthermore, the withholding tax on dividend
See MoreFinland and Portugal signed an income tax treaty
Finland has signed an income tax treaty with Portugal for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. The treaty was signed on 7 November 2016 in Brussels. The new treaty will be replaced by
See MorePortugal-Published revaluation incentive for tangible fixed assets and investment properties
The Portuguese Tax Authorities published in the Official Gazette Decree-Law nr. 66/2016 on 3 November 2016. The Decree establishes a voluntary regime for revaluating tangible fixed assets and investment properties, with the purpose of encouraging
See MorePortugal: State Budget 2016 approved
On 30 March 2016, the State Budget 2016 (Law 7-A/2016) of Portugal has been promulgated by the President of the Portuguese Republic and published in the official journal Diário da República. Additionally, on 5 February 2016, further budget
See MorePortugal-Budget Law for 2016 implements country-by-country reporting requirements
The Portuguese Budget Law for 2016 has been approved on 16 March 2016. The approved Budget Law implements country-by-country reporting requirements. Country-by-Country (CbC) reporting requirement will be applicable for domestic entities with
See MorePortugal: Further budget measures 2016
On 5 February 2016, further budget measures were announced. The most important measures are summarized here. Corporate income tax (i) Patent box: The patent box regime will be amended to incorporate the "modified nexus approach" in line with BEPS
See MorePortugal: Surcharge on personal income tax may reduce for 2016
The government of Portugal approved the plan to reduce the surcharge from 3.5% to 2.625% on personal income tax for the fiscal year 2016, on 5 November 2015, however it needs to get parliamentary approval to enter into force. If the parliament of
See MoreDTA between Oman and Portugal signed
On 27 April 2015 Oman and Portugal signed an income tax treaty for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. No further details are currently
See MoreDTA between Portugal and Saudi Arabia signed
Portugal and Saudi Arabia signed an income tax treaty for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income in Lisbon on 8 April
See MoreColombia and Portugal: DTA enters into force
On 30 January 2015, the DTA between Colombia and Portugal entered into force and it will applicable from first January 2016 for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on
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