Know-How

Different issues regarding the taxation applicable to the transactions involving virtual products and, particularly, cryptocurrencies, have, recently, been raised before the Portuguese Tax Authority, which has now issued, a new binding ruling addressing VAT issues in the context of cryptocurrencies and tokens.

Following the approval by the European Commission on April 6, 2018 in the context of EU State Aid rules, the Portuguese Government has taken the first step by approving Law proposal no. 111/XIII. A special tax scheme enhancing maritime transport activities is proposed with the intention to encourage and strengthen the maritime industry. It is expected that this scheme will boost even further Madeira’s International Shipping Register.

Following the work carried out by the G20 / OECD under the Base Erosion and Profit Shifting (BEPS) project, namely Action 12 on mandatory reporting rules, and the implementation of the Common Reporting Standard ("CRS"), the OECD published a Mandatory Disclosure Rules Model for Schemes that Avoid CRS and Opaque Offshore Structures. Within a broader framework, at recent ECOFIN meeting, the European Union approved the extension of...

The Golden Visa regime, in force since 2012, enables third country (non-EU) nationals that intend to conduct investment activities in Portugal to obtain a temporary residence permit. The beneficiaries of Golden Visa are entitled to live and work in Portugal, further benefiting from a visa exemption for travelling within the Schengen Area. They can also request family reunification, apply for permanent residence and, eventually, apply for ...

Madeira’s free trade zone encompasses a special tax regime, which has been authorized by the European Commission as legal regional State Aid. It offers companies incorporated therein or companies that will be incorporated until December 2020, as well as to their shareholders, plentiful fiscal benefits, which may be enjoyed until December 2027. Insofar as certain economic substance requirements are met, these corporations may enjoy a 5% c...