Tax
The role of the Bank of Portugal in the new tax amnesty - Caiado Guerreiro & Associados
One of the main objectives of the new regime of tax amnesty, also known as RERT III (Regime Excepcional de Regularização Tributária), is settling with the Portuguese Tax Administration any financial or corporate assets held abroad by tax residents in Portugal.Capital markets: the tax uncertainties - Allen & Overy
Spanish financial institutions and corporations face nowadays a need to refinance existing debt and to obtain additional liquidity. The capital markets, which seem to have shown a degree of recovery, are the natural route for achieving this. But Spanish entities’ attempts to raise funds this way may suffer uncertainties from a tax perspective.
Leaving aside the potential introduction at a European level of a national financial transactions tax (applicable to negotiable instruments), it is worth mentioning the new procedures for investors holding listed preferred securities and debt instruments issued by Spanish qualifying issuers. The new procedures constitute a real improvement as they simplify the administrative issues, particularly in the case of international transactions and align the position of Spanish issuers to that of companies located in other jurisdictions.
Portugal’s updated Tax Havens blacklist - PLMJ
Order in Council no. 292/2011, published on 8 November, updated the list of countries, territories and regions with clearly more favourable privileged tax regimes ( known as ‘tax havens’) appearing in the earlier Order in Council no. 150/2004 of 13 February. It also excluded from the list two countries that are members of the European Union (EU): Cyprus and Luxembourg.
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