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Tax Newsletter - September 2022
Portugal: Rental support and VAT rate reduction on electricity supply
In the context of family support measures, Law no. 19/2022, of 10/21, approved a series of fiscal measures.
Portugal: Updating on the monetary devaluation indexes for 2022
The annually update of the monetary devaluation indexes was approved by Ordinance no. 253/2022, of 20 October, regarding the indexes to be applicable to the goods and rights…
Spain: Adapting the tax system to challenges facing the green transition
In the context of the Recovery, Transformation and Resilience Plan a range of measures relating to…
Top 10 Portugal Budget Takes 2023
On the 10th of October, the Portuguese Government presented the Budget Bill for 2023 to the Portuguese Parliament. The Bill is now under analysis and will be subject to discussion and submitted to approval in the upcoming weeks.…
Tax Newsletter - July and August 2022
Borrowing costs in respect of loans for distribution of dividends are deductible
Supreme Court holds that these types of borrowing costs are connected with the business and therefore cannot be classed as a gift.
Garrigues doubly awarded in London as Spain tax disputes firm and Spain indirect tax firm of the year
Garrigues has been doubly recognized as firm of the year in Spain in the categories of tax disputes and indirect tax. The publication International Tax Review (ITR), which covers tax news from firms across the globe, has granted…
Spain: The reform of the Tax on Fluorinated Greenhouse Gases comes into force
Law 14/2022 of July 8, 2022, the first final provision of which amends the Tax on Fluorinated Greenhouse Gases (IGFEI), was published in the Official State Gazette on…
Colombia: 2022 tax reform bill
On 8 August 2022, a bill was submitted to the Congress of the Republic for the adoption of a tax reform in Colombia. The new government proposes a set of measures that aim to redistribute wealth by increasing the tax burden on those with the…
Tax Newsletter - June 2022
Exemption for work performed abroad: Directors can apply the exemption for their executive activities
Exemption for work performed abroad: Directors can apply the exemption for their executive activities
The Supreme Court has concluded that directors are entitled to the exemption for work performed abroad as part of their executive activities. Also, the courts are placing limits on the documents that the tax authorities are allowed to request…