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Tax Changes during the last day of the Legislature

During the last plenary session of the legislature there was a real marathon, a total of 170 diplomas were voted. Among the diplomas voted was the proposta de lei n.º180/XIII, passed in a final global vote, introducing amendments to various tax codes. The approved law takes effect on October 1, 2019, and some changes take effect from January 1, 2020.

Of particular note are several amendments, including the introduction of the possibility of appeal against the decision of CAAD terminating the arbitration proceedings when it is in opposition to another arbitration decision, as regards the same fundamental question of law.

The IRC Code has also been amended, and article 143 has been added which defines the concept “Turnover” for the purposes of corporate income tax and related legislation, as well as other amendments to articles 20, 24. 63, 98, 130 and 138.

The deadline for payment of VAT has been extended by five days and the amount of debts that can be paid in parts without guarantee is now € 5,000 in IRS and € 10,000 in IRC (provided the taxpayer no longer has tax debts). Amendments to VAT, IMI, IMT, IS, IUC, IEC and other tax laws.

This plenary session also highlights the approvals of the changes made to IMI regarding the update of the property matrix in the name of the inheritor, in IMT regarding the deadline to request the cancellation of the IMT paid in case of resale of the property in the period. three years, as well as in the IS, IUC, IEC and other tax diplomas, as well as in the so-called Lobby Law, Labor Code, the Blessed Women Act and the new Health Law.

The content of this information does not constitute any specific legal advice; the latter can only be given when faced with a specific case. Please contact us for any further clarification or information deemed necessary in what concerns the application of the law.

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