In recent years, several income tax law provisions of EU member states were challenged by the European Court of Justice (ECJ) on the grounds of infringement of freedom of movement for goods, services, persons, and capital.
The Spanish impatriate tax regime, enacted in 2004, also known as the “Beckham Law” – as football player David Beckham was one of the first individuals to apply it – was amended with effect from January 1, 2010, despite pressure from the Spanish football lobby, which has benefited extensively from it. Under the amendment, employees […]
Following a Recommendation from the European Commission in April 2009 on remuneration policies, Portugal recently introduced changes to its personal income tax (PIT) and corporate income tax (CIT) legislation, with the aim of limiting excessive termination indemnities paid to top executives, so-called ‘golden parachutes’.
With the intention of attracting highly qualified professionals and other high net worth individuals in order to facilitate and promote the transfer of scientific, technical and artistic knowledge, and consequently contribute to Portugal’s economical development, the 2009 Budget Bill granted the Portuguese Government an authorisation to introduce and implement a New Tax Regime for Expatriates […]
The reform of the legal framework for state-owned property, driven by objectives of simplification, financial rigour and greater administrative efficiency, was enacted by Decree-Law 280/2007 of 7 August, which came into force last September. The significance of this instrument should not be underestimated, since state-owned property has a significant impact on all state finance and, […]
Over the last decade the Portuguese annual budget has often produced what can be referred to as periodic ‘tax-quakes’, making radical structural amendments to Portuguese tax legislation. After 10 years of tax budgets aimed at harmonising the tax regime, simplifying administrative procedures and bringing it in line with EU directives, the time has arguably come […]
In the last few years we have seen many changes in the Spanish tax regime, due to the need to adapt to increasing internationalisation and globalisation of business.
Ramón Palacín, José Luis Gonzalo, Florencia Gaido, Juan José Terraza and Carlos Gabarró, Ernst & Young Abogados – International Tax Services