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Latin American Viewpoints - January 2021
We are pleased to share our first issue of 'Latin American Viewpoints'. We provide a complete-picture insight on key new legislation, covering analysis of new developments, trends and viewpoints across the region, from every angle of business law…
Spain - General State Budget Law for 2021: Review of the tax measures
Law 11/2020, of December 30, 2020, the General Budget Law for 2021, (LPGE) was published in the Official State Gazette (BOE) on December 31, 2020. It includes numerous measures related to various taxes, which are summarized below.
The importance of tax residence: These are the rules in Latin America, Spain and Portugal
In this article we describe the factors determining the tax residence of individuals and legal entities or the existence of permanent establishments in the main Latin American countries, and in Spain and Portugal, along with the interpretation…
Tax Newsletter - December 2020
Late-payment interest charged by the tax authorities is deductible
For some years the tax authorities and the courts have upheld as a general rule that late-payment interest was not deductible for corporate income tax purposes before the current Corporate Income Tax Law (Law 27/2014, of November 27, 20109)…
COVID-19: Review of the year that changed everything and trends for 2021
2020 has been a year like no other. The world health emergency caused by the spread of COVID-19 and the resulting declaration of a state of emergency (lockdown) in Spain in March 2020 brought an unprecedented whirl of legislative activity.…
DAC 6: Spain transposes the Directive on tax intermediaries
The law transposing Council Directive (EU) 2018/822 of May 25, 2018 amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements (known as DAC 6…
Transfer pricing: The OECD publishes recommendations addressing the impact of COVID-19 on controlled transactions
On December 18, 2020, the Organization for Economic Cooperation and Development (OECD) published guidance (…
Portugal: QR Code and IES with previous SAF-T filling postponed to 2022
The State Budget Law for 2021 (Law 75-B/2020, of 31 December) just published confirms the already announced:
DAC 6 – Form approved (Model 58)
The form (Model 58) to comply with the report obligation to the Portuguese Tax Authority (AT) of the so-called "arrangements" was finally approved by Ministerial Order no. 304/2020, of…
Brexit: UK residents may appoint tax representative until June 2021 with no penalties
Following the United Kingdom withdrawal from the European Union and the end of the transition period on 31 December 2020, it was approved, by …
COVID-19: New VAT instalment payment scheme for the first half of 2021 in Portugal
The Portuguese Government approved, through Decree-Law 103-A/2020, of 15 December, a new regime for the payment of VAT, in three or six instalments, to be implemented during the first…