29 Tuesday Dec 2020
Posted in Briefs
≈ Comments Off on Brexit – UK abandons Erasmus Programme
The United Kingdom leaves the European student exchange programme, Erasmus, as a consequence of the post-Brexit trade agreement reached with the European Union. Prime Minister Boris Johnson announced a replacement programme, named after British mathematician, Alan Turing.
29 Tuesday Dec 2020
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≈ Comments Off on Brexit – Stays of 90 days
The commercial agreement established between the United Kingdom and the European Union will allow the mobility of European and British citizens for short stays (maximum 90 days consecutively). As of yet, there is still no agreement for longer stays. The agreement does not cover the right of UK nationals to enter (with or without a visa) to work, reside or remain in the EU, nor vice versa.
24 Friday Jul 2020
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≈ Comments Off on EU Blacklist: addressing external fiscal challenges
Tags
blacklist, countries, eu, evasion, fraud, illegal, jurisdiction, laundering, money, tax
The list of non-cooperative jurisdictions for tax purposes is a tool to tackle:
The EU blacklists countries that encourage abusive tax practices that erode member states’ corporate tax revenues. Member states can act together to press for reform. The aim is not to “name and shame” countries but rather to encourage positive change in fiscal legislation and practices through cooperation. Once a jurisdiction is compliant, it can be removed from the European Union’s blacklist.
24 Wednesday Jun 2020
Posted in Briefs
≈ Comments Off on Portugal is still the third most peaceful country in the world
In 2020, Portugal ranks first among the most peaceful countries in the European Union as reported by the Institute for Economics and Peace. The worldwide classification is led by Iceland, which holds the top spot since 2008, followed by New Zealand. The Ministry of the Interior expressed its satisfaction with the maintenance of Portugal’s third place. In 2014, the country ranked 18th. At the opposite end of the spectrum are the regions of the Middle East and North Africa, home to three of the five least secure nations (Iraq, Syria and Yemen). Afghanistan continues to be the most dangerous.
16 Monday Dec 2019
Posted in Articles
≈ Comments Off on Duties of a Fiscal Representative
Tags
at, duties, efa, eu, fiscal representative, irs, nif, rep, senha, tax office, third country, vat
There are two types of Fiscal Representation in Portugal:
Appointing a Fiscal Representative
It is mandatory to appoint a Fiscal Representative whenever a third-country national who is not resident in Portugal has income arising in Portugal. Alternatively, although residing in the national territory, an individual is absent for a period exceeding six months and obtains income in Portugal subject to Portuguese taxation. For a non-resident to start the process of appointing a tax representative in Portugal, the taxpayers must have a Fiscal Number (“NIF”) and a password (“senha”) to be identified on the Finanças Portal. Continue reading
16 Monday Dec 2019
Posted in Posts
≈ Comments Off on Portugal continues to block assessment of multinationals in the EU
The directive on sharing tax information of multinational corporations has been stalled for the last two years in the European Council. Portugal forms part of a group of member states holding up passage of this EU ruling. The stance contradicts what the government defends in its political programme. The position also contradicts the voting record of Portuguese socialist representatives.
26 Friday Jul 2019
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≈ Comments Off on An Introduction to Forced (Protected) Heirship
Tags
brussels, civil, common las, cyprus, denmark, eu, forced, france, heirship, ireland, portugal, succession, uk
What is Forced Heirship?
In many Common Law jurisdictions, testators enjoy full freedom to leave their assets to whomever they wish. However, in other countries, this is not the case. Succession laws define given rights for the heirs. Despite the provisions made in a testament, a will can easily be overturned by these protected heirs. This is called Forced Heirship. Continue reading
08 Monday Jul 2019
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≈ Comments Off on Tax dispute resolution to follow EU directive
Tags
agreement, arbitration, bilateral, commission, directive, dispute, double, eu, guideline, settle, tax, taxation
Settling cross-border tax conflicts within the European Union will follow new guidelines that entered into legislation as of 01 July as announced by the EU Commission. According to a recent directive, taxpayers confronted with double tax disagreements within the EU that arise from differing interpretations of bilateral tax treaties can initiate a joint agreement procedure, leading countries to either settle the issues or accept a arbitration made by an independent advisory committee. The criteria applies to income or capital earned on or after 01 January 2018.
27 Thursday Jun 2019
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≈ Comments Off on Non-habitual residents register 26% increase in 6 months
Tags
brazil, eu, increase, nhr, non habitual, pensioners, portugal, refugees, residency, sweden
Despite an inauspicious start in 2009, the “NHR” programme has gained relevance, attracting thousands EU “tax refugees” to Portugal. Since 2014, new applicants have increased by 1400%. Between September of 2018 and March of this year, the number of new non-habitual residents rose by over 26%. Brazilians recorded the most significant jump with a gain of 52%, surpassing the Swedes. Citizens who qualify for “NHR” status pay “IRS” at a flat rate of 20% when they are linked to high added-value activities in Portugal. However, this group of targeted professionals accounted for just 7% of total applicants. Most are pensioners, seeking a 10-year tax holiday on their retirement benefits. In 2017, new “NHR” retirees numbered almost 10,000.
27 Thursday Jun 2019
Posted in Posts
≈ Comments Off on EU triples tax haven blacklist
Tags
aruba, barbados, belize, bermuda, blacklist, eu, fiji, guam, marshall, oman, panama papers, samoa, triple, virgin
The EU has broadened its blacklist of tax havens, adding 10 new jurisdictions; Aruba, Barbados, Belize, Bermuda, Fiji, the Marshall Islands, Oman, the United Arab Emirates, Vanuatu and Dominica. They join Samoa, Trinidad and Tobago, and three U.S. territories of American Samoa, Guam, and the U.S. Virgin Islands which were already listed. The European Commission created its blacklist in December 2017 after revelations of widespread tax evasion schemes (“Panama Papers”) used by corporations and high net worth individuals to reduce their tax liabilities. Listed jurisdictions face enhanced financial scrutiny but as yet no sanctions.
DSG - in the pipeline 