After a long and troubled process, in April 2015 the EU Regulation no. 2015/751 of the European Parliament and Council (Regulation on the Interchange Fees) was approved. The most striking feature of this regulation was the setting of maximum limits for the interchange fees applicable to debit card-based payment transactions (0.2 per cent of the […]
Pursuant to the EU Council Directive 2015/121 (the “Directive”), all Member States were required to adopt new provisions implementing a general anti-avoidance rule (“GAAR”) to prevent abusive tax planning structures aimed at benefitting from the participation exemption regime foreseen in the Parent Subsidiary Directive.
The approval of the non-habitual tax resident regime in 2009 is another reason why Portugal has become a premium destination for foreigners. This regime allows foreigners to benefit from zero per cent taxation on the majority of foreign-sourced passive income – capital gains from real estate assets, dividends, interests, immovable property income, royalties, and private […]
At the beginning of 2015, new rules related to the taxation of individuals came into effect, as well as a new “green tax reform”. Meanwhile, in parallel, policies related to corporate taxation are being continuously improved with a view to ensuring an increase in foreign investment.
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.
Portugal has been adjusting its personal income tax regime and is now one of the front-runners to benefit from the worldwide increase in personal mobility and the dislocation of high-net-worth individuals.
Spanish Parliament recently approved Law 16/2013, October 29th, 2013, on certain measures related to environmental taxation and other tax and financial measures. Although it might seem that the main measures introduced by Law 16/2013 should relate to environmental taxation, a number of significant amendments also affect Corporate Income Tax, which have generated a greater degree […]
As a result of the reform of the Portuguese Tax Administration (PTA), agreed in the Memorandum of Understanding between Portugal and the Troika, a large taxpayers’ unit (LTU) was created to monitor around 290 entities representing 50 percent of Portuguese tax revenues.The rationale for this decision is to provide a more adequate relationship between these […]
The Spanish Government recently approved new tax measures to tackle the economic crisis and stimulate the economy. The new austerity measures have introduced significant amendments in Corporate Income Tax, Personal Income Tax and Value Added Tax.Since the middle of 2011, the Government has been introducing significant amendments in CIT to attempt to reduce the public […]
Nowadays, electricity generated using hydropower contributes in a substantial way to meeting the world’s increasing electricity demands. The role of hydropower, along with other renewable energy sources, is expected to become increasingly relevant in future.
