To promote the languishing traditional letting, the Government is studying fiscal incentives for landlords who choose to enter into up to 10 year lease contracts with their tenants. One of measure under consideration is to reduce the 28% rate currently applied, as revealed in the “Jornal de Negócios”.
The Common Reporting Standard (CRS) is an information system for the automatic exchange of tax information, developed in the context of the OECD. So far, 98 countries have signed up with more expected to join in the near future. Until now, the parties to most Double Tax Treaties in place for sharing information have done so only upon request. This approach has not always proven effective in preventing tax evasion. The new method is supposed to transfer all relevant information automatically and systematically. Continue reading