At the end of 2014, reinforced powers belonging to the Portuguese Competition Authority were applied for the first time in relation to two high profile cases. The first one concerned Sport TV Portugal and the broadcasting rights of sports events, mainly football. The second one involved Peugeot Portugal and related to warranties and independent repair shops.
Now that smartphones have become an established part of our daily lives, mobile applications (apps) of every type have arrived – some display the weather conditions, some advise us on health matters, while others enable us to perform bank transactions. There are even apps that inform us that we are getting closer to our favourite shops.
A new law has been introduced to aid the implementation of new legislation relating to lease agreements between landlords and tenants. By way of background, one of the measures introduced as part of Portugal´s economic assistance programme – negotiated with the so-called ´Troika´ – was an amendment to the Urban Lease Law (Law 6/2006 of 27 February). The main purpose of the New Urban Lease Law (Law 31/2012 of 14 August), was to broaden conditions under which renegotiation of lease agreements is possible and to “ensure balanced rights and obligations of landlords and tenants”.
Act 22/2014 of 12 November, published in the Spanish Official Journal on 13 November, regulates private investment entities (ECR), collective investment entities of a closed-ended type (EICC) and managers of collective investment entities of a closed ended type (SGEIC), and amends the Collective Investment Schemes Act 35/2003 of 4 November.
As part of the Europe 2020 strategy, the “Horizon 2020 - Framework Programme for Research and Innovation”, establishes European Union research and innovation funding for 2014-2020. Since its launch by the European Commission, the framework has been considered one of the EU key tools aimed at financial stabilisation, economic and competitive growth, sustainable development and climate action. Horizon 2020 focuses resources on three different fields of action: excellent science; industrial leadership; and societal challenges.
The draft bill on personal income tax, Impuesto sobre la Renta de las Personas Físicas (IRPF), and non-resident income tax, Impuesto sobre la Renta de No Residentes (IRNR), is going through the Senate of Spain and is expected to take effect – except for a few specific elements – from 1 January, 2015.
The Portuguese Government has adopted Decree-Law No 157/2014, of 24 October, which establishes a new national legal framework for credit institutions. This new Act amounts to an important and far-reaching revision of the existing rules for financial activities in Portugal, including revising the Portuguese Securities Code, which regulates the capital markets.