“LGT” - Offshores transfers
Law n.º 14/2017 of 3 May, was officially published, which amends the General Tax Law obliging the Tax and Customs Authority to annually publish on its website the total annual value of transfers and remittances, as well as the reason for the transfer, when sent to countries, territories and regions with a more favorable preferential tax regime. The reporting obligations on this subject in the annual report submitted by the Government to the Parliament on the evolution of the combat against fraud and tax evasion are also reinforced.
The present law will be subject to regulation, coming into force on May 4.
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