It was published on the official gazette the Ministers Council Order no. 40-A/2020, of 29 May, extending the Calamity State under the COVID-19 pandemic and rules the new de-confinement phase in Portugal. Among other measures, it should be highlighted the amendments introduced on telework and work organization in the companies, in force from June 1st, 2020, onwards.
In a recent judgment delivered on March 3, 2020 (cassation appeal 5448/2018), the Supreme Court ruled on the limits of the interpretation of tax treaties in light of later versions of model conventions (and their commentaries) published by the OECD.
Preparation of financial statements and corporate income tax, recommencement of time periods, remote trials, gradual return to workplaces, insolvency proceedings and compliance with criminal law
On May 14, 2020, the Portuguese Parliament passed Law no. 16/2020, dated May 29, making the fourth amendment to Law no. 1-A/2020, dated March 19, determining various exceptional and temporary measures in response to the epidemic caused by the SARS CoV-2 coronavirus and the COVID-19 infectious disease, affecting the area of Justice and the Courts, significantly including the suspension of procedural time limits (albeit with certain limitations and exceptions). Consult our April 7 Alert.
As we reported in our commentary dated April 11, 2020 (read here), in the current health crisis commercial lease agreements are being renegotiated due to force majeure.
Madrid City Council plenary meeting approved on May 29, 2020 an amendment to the local tax laws on real estate tax and the tax on economic activities, to provide new reductions to both.
The General Court of the European Union has refused the registration of the trademark "XOXO", considering that it does not fulfill the function of identifying the business origin because it has a merely promotional meaning: love and affection.
COVID-19 is particularly and adversely affecting shipping, in a similar way to events in many other industries. We examine what key legal issues need to be addressed by the shipping industry, the legislation approved on this subject in recent weeks, and whether force majeure and the rebus sic stantibus doctrine could potentially operate.
Royal Decree-Law 19/2020 states that the three-month time period for preparing financial statements and other documents required by law will start to run from June 1, 2020, and reduces the time period for approving financial statements to two months running from the end of the time period for their preparation. In keeping with the new time periods for preparation and approval of the financial statements, it is allowed to file a second corporate income tax self-assessment until November 30, 2020. Additionally, amendments are introduced to the rules on tax deferrals for small and medium-sized companies and the self-employed along with a new stamp tax exemption; and a later date has been determined for publication of the list of delinquent tax payers.
