Several courts have pronounced on the special pricing rule for transfers of unlisted shares and in particular on how to apply the rule to transfers of shares in dormant or newly created companies. They have also pronounced on the burden of proof in relation to market value and on whether a limited review is a valid procedure for examining these transactions.
By Order 7048/2022, of 27 May, issued by the Portuguese Tax Authorities’ General Director, it was published the new list of taxpayers whose tax situation should be followed by the Unit of Large Taxpayers ("Unidade dos Grandes Contribuintes"), and therefore are covered by the Large Taxpayers obligations as of the day of entrance in force of the referred Order (3 June 2022).
Due to the ongoing situation of COVID-19 in China, especially in Shanghai, the Chinese government has introduced more regulations and policies or extended the deadline of the previously issued regulations and policies to further support both the economic development and the business. In this Newsletter, we will share with you detailed provisions of these policies in Shanghai focusing on the topics of labor and employment, leasing, tax, etc. Depending on the location of your business, there could be more specific implementation rules at local level.
Directorate General for Taxes and courts examine timing effects of constitutional court judgment of October 26, 2021 and entry into force of Royal Decree-Law 26/2021 of November 8, 2021 amending the legislation to adapt it to the Constitutional Court’s decision.
Law 7/2022 of April 8, 2022 creates an excise tax on non-reusable plastic packaging and a tax on waste sent to landfill, incineration and co-incineration, which will come into force on January 1, 2023. It moreover imposes an obligation on local authorities to charge a fee in relation to waste treatment, modifies the rules on the charge on the use of inland water for electricity generation and adds amendments to the VAT rules for gifts of products.