As a result of the improving epidemiological situation in Portugal, and in the implementation of a government strategy for gradually lifting lockdown measures adopted within the scope of the fight against the COVID-19 pandemic, the regime for the general suspension of procedural periods and procedures established previously is now revoked.
As previously announced by the Government and notwithstanding the current "deconfinement" plan being executed, Decree-Law n.º 25-A/2021, March 30th, was published in the Portuguese Official Gazette (Diário da República), under which the exceptional and transitory work reorganization regime, governed by Decree-Law n.º 79-A/2020, October 1st, was extended.
The Portuguese Government approved a new review to the deferral scheme foreseen for tax compliance obligations by Dispatch no. 90/2021-XXII, 16 March, which makes the tax calendar more flexible concerning the VAT payment due regarding January 2021 by taxpayers subject to the monthly regime, as well as the delivery of IRS or IRC withholding taxes due in February.
Without prejudice to the “deconfinement” plan being carried out, taking into account the fragile economic and financial situation in which both employees and companies find themselves, Decree-Law n.º. 23-A/2021, March 24th was approved and published in Portuguese Official Gazette (“Diário da República”), which provides for the strengthening of the support measures, among which the following stand out:
Garrigues has boosted the tax department in Portugal by taking on Miguel Pimentel to coordinate the Portuguese international taxation practice. Pimentel joins partners Pedro Miguel Braz, department director and coordinator of the Portuguese tax litigation practice, and Fernando Castro Silva, in charge of the tax advisory practice, on the task of leading a team with more than thirty practitioners. Garrigues tax department has in this way strengthened its positioning in the Iberian market: today it was recognized for another year running as Tier 1 in the Chambers Europe directory for both Portugal and Spain. 
Debt markets continue to feel the calming — even sedative — effects of the battery of support measures rolled out to counteract the decline in business activity due to the effects of COVID-19. Jumbo deals involving non-performing loans (NPLs) are expected to resume in the last quarter of 2021. Until then, we will witness two very interesting developments until then: single name sales and the appearance of new players in the debt market.