Tax

Garrigues

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  • Portugal Indirect Taxes Newsletter – N.º 4

    This edition highlights the measures included in the Draft State Budget Law for 2026, the introduction of VAT groups in Portugal, the first binding information addressing the concept of permanent establishment for VAT purposes, as well as the most recent case-law of the Court of Justice of the European Union (CJEU) regarding the VAT regime for adjustments applied in the context of transfer pricing for intra-group services.

  • Portugal: Update of the monetary devaluation coefficients for 2025

    The monetary devaluation coefficients applicable to assets and rights disposed of in 2025 have been published for the calculation of corresponding capital gains.

  • Portugal: CIT rate is progressively reduced until 2028 to 17%

    The general Corporate Income Tax (CIT) rate will be progressively reduced from 20% to 17% between 2026 and 2028, while the special rate will decrease from 16% to 15% already in 2026.

  • Garrigues named by ITR as Spanish tax firm of the year and Portuguese transfer pricing firm of the year

    The awards were presented during the ITR 2025 EMEA Tax Awards which took place in London

  • Pillar Two: It has been approved the declaration to communicate the submission to the Global Minimum Tax

    The declaration to communicate the starting period of submission to the Global Minimum Tax (GMT) has been approved. This regime imposes the payment of a global minimum tax on large multinational and national groups with annual consolidated revenues exceeding 750 million euros when the group's effective tax rate is less than 15% in a given jurisdiction.

  • Portugal: New codes in the DMR form for IRS Jovem and tax-exempt bonuses in 2025

    As part of the changes introduced by the State Budget Law for 2025, the Portuguese Tax Authority has updated the monthly remuneration statement (DMR), introducing new codes to reflect both the IRS Jovem regime and the bonuses that may benefit from partial income tax exemption under certain conditions.

  • Portugal removes Hong Kong, Liechtenstein and Uruguay from tax havens list

    Portugal reviews the list of countries, territories, or regions with clearly more favourable tax regimes (commonly referred to as 'tax havens'), excluding Hong Kong, Liechtenstein, and Uruguay from the list. 

  • The Portuguese Government reduces Personal Income Tax rates and adjusts withholding tables

    The Portuguese Government approved the reduction of the Personal Income Tax (IRS) rates with effects from January 1, 2025, and the new withholding tax tables applicable from August until the end of the year.

  • Garrigues scoops three awards at the 10th Expansión Legal Awards

    The firm has won in the ‘Lawyer of the Year’, ‘Best Tax Firm’ and ‘Deal of the Year’ categories.

  • Portugal: Extension of the filing deadlines for Modelo 22, IES and the Fiscal Dossier

    The deadlines for filing the CIT return, the IES and the tax file were extended, in response to the request of the Portuguese Chartered Accountants Association.