Business and Coronavirus Covid-19
The worldwide health alert triggered by coronavirus is generating a great deal of uncertainty among companies, affecting all aspects of their activity. Garrigues offers its clients multidisciplinary teams specializing in all practice areas in the countries in which it operates. Since the crisis took hold, the firm has established a team of professionals responsible for supervising the contents of this Special section, in which we provide information on all legal developments in relation to the coronavirus crisis, on proposals made by social partners, agreements, decisions, orders, etc.; in short, all the relevant information which companies need to be aware of.
09-16-2020
The COVID-19 outbreak at the beginning of 2020 has caused an unprecedented worldwide crisis, first in healthcare, later in the economy. On the subject of the economy, although there has been much discussion about the various ways and times that the impatiently awaited recovery will occur, there are no signs of it happening in the short term, and the pandemic’s effects on the economy are likely to be felt for a long time. That also has an impact on transfer pricing, and will have (and is actually already having) important consequences on how controlled transactions are carried out within multinational groups, on how prices are determined in those transactions, and on how these issues must be addressed with the tax authorities.
08-12-2020
It has been published in the official website of the Portuguese Tax Authority, the new postponement of the deadline to comply with the obligation to prepare and submit the transfer pricing file, to which large taxpayers are subject, under article 130, no. 3, of the Corporate Income Tax (“IRC”) Code, to September 15th, 2020 (in line with the postponement of the submission of the IES/DA).
08-04-2020
In order to mitigate the effects of the Covid-19 pandemic, the Portuguese Government approved, by Law no. 29/2020 of 31 July, three more fiscal measures to support micro, small and medium-sized enterprises
08-03-2020
IRC periodic return (Model 22) can be submitted and corresponding tax can be paid until today, without any penalty, as decided by the Portuguese Government, by Order 296/2020XXII, given the constraints presented by companies and accountants in the context of the pandemic Covid-19.
07-31-2020
We outline below the exceptional measures that have successively been adopted to mitigate the effects of the Covid-19 pandemic in Portugal on payments on account and additional payments on account.
07-30-2020
It is thought that the measures adopted to tackle the global crisis caused by the appearance of COVID-19 will be a catalyst for foreign investors filing claims against states. While we are likely to see an increase in investment arbitration in the next few years, it is unknown what stance states will adopt in response.
07-29-2020
In the context of the extraordinary measures adopted to minimize the impact of new coronavirus (COVID-19) on the Portuguese economy, the Secretary of State for Tax Affairs, through Order no. 258/2020-XXII, of 16 June, decided to extend the deadline of the first payment on account due by taxpayers who obtain professional and business income (category B) from July 20 to August 31, without the application of any penalties.
07-28-2020
The Council of Ministers approved on July 21, 2020 the decision on the functioning of the solvency support fund for strategic companies (FASEs, after its initials in Spanish), requirements to be eligible for the support, restrictions regarding beneficiary companies and reporting obligations on received support.
07-16-2020
Ordinance no. 170-A/2020 of July 13th has been approved and regulates the attribution of financial support to companies during the returning phase of its employees to normal work provision and normalization of business activity.