On March 26, 2020, the Government approved and submitted to Parliament a proposal for exceptional legislation (Draft Bill nº 21/XIV) that will allow for the deferral of the payment of rents due under lease agreements, during the emergency period of the epidemic caused by the SARSCoV-2 coronavirus and the COVID-19 infectious disease.
On March 26, 2020, the Portuguese Government approved Decree-Law nº 10-J/2020 (“Moratorium Regime”), putting into practice exceptional measures for protecting families, companies and welfare institutions, in relation to the weight of their debt service obligations, specifically creating a moratorium which will apply until September 30, 2020. A special regime is also created for the grant of guarantees by the Portuguese State. This Alert contains the most relevant points of the regime approved.
The tax measures addressing the current COVID-19 situation are included in Decree Law 10-F/2020 of 26 March 2020 and other ad-hoc ministerial orders. We provide below an outline of those tax measures.
The Monthly Stamp Tax Declaration (“DMIS”), as well as assessment and payment obligations, are subject to changes within the scope of the implementation of extraordinary and urgent measures in response to the epidemiological situation originated by the new coronavirus (COVID-19), as disclosed by Order no. 121/2020-XXII, of 24 March, of the Secretary of State for Tax Affairs.
Form “Modelo 30” was updated by Ordinance no. 78/2020, of 20 March in order to allow the fulfillment of the international commitments assumed by Portugal regarding administrative cooperation in the field of taxation.
Pandemic has entered the world’s daily vocabulary in the most dramatic and unexpected way. As the severity of the situation worsens, a growing number of legislative initiatives attempt to address the needs of citizens and society in the face of the outbreak. This note is aimed at reporting on the main legislative or regulatory initiatives that have been taken in Portugal with a view, mainly, to protecting society against the spread of the new coronavirus and the effects that the pandemic causes on social and economic life.
Following the declaration by the Ministry of Internal Affairs and Ministry of Health of the State of Alert for the whole country, the Council of Ministers, on March 13th 2020, approved a set of measures, of extraordinary and urgent nature, in response to the epidemiological situation of the new COVID-19, having, on the same date, been published in the Official Gazette, Decree-Law n.º 10-A/2020 and Resolution of the Council of Ministers n.º 10-A/2020, as well as Ordinance n.º 71-A/2020, of March 15th 2020, being these diplomas that came to operationalize the measures announced.
The Portuguese Government presented a set of measures in order to minimize the impact of new coronavirus (COVID-19) on the Portuguese economy at the extraordinary meeting of the Standing Committee on Social Concertation (CPCS).
We are currently undergoing a public health crisis, caused by the new coronavirus («COVID-19»), the impact of which on the business sector could have significant legal consequences, from a contractual, dispute resolution, labor, regulatory and even criminal perspective. This broad range of potential incidents should warrant special attention and be handled from a multidisciplinary legal point of view.
Garrigues takes the award for the second year running