I. EDITORIAL – MANDATORY AUTOMATIC EXCHANGE OF INFORMATION IN THE FIELD OF TAXATION
During the month of October, the transposition of the Directive n.º 2014/107/EU was concluded through the Decree-law n. 64/2016 of 11th October, which regulates the mandatory automatic exchange of information in the field of taxation.
This new law also foresees the implementation of cooperation mechanisms in order to fight against tax evasion in Portugal and in the European Union, considering the established in the Foreign Account Tax Compliance Act.
Also during the month of October, it was published the Decree-Law n.º 261/2016, of 7th October, which proceeds to several modifications regarding the Social Security, namely the coefficients to retirement and invalidity pensions and the Decree-Law n.º 282/2016, of 27th October, which establishes new mechanisms for the beneficiaries of unemployment allowance.
Regarding the Jurisprudence in Portugal, we highlight one must also mention the Supreme Court Ruling n.º 14/2016, of July 5th and the Supreme Court Ruling, dated 13th of October, regarding the procedure n.º 430/13.8TBPVZ.P1.S1.
The Supreme Court Ruling of 13th of October establishes that all liabilities related to the Banco Espírito Santo SA, that may arise from a swap agreement entered in 11/01/2010, are not transferable to the Novo Banco SA, in accordance with the decision of the Board of Directors of the Banco de Portugal, dated 03/08/2014 and 11/08/2014.
Finally, considering the general news in Portugal during this month, we highlight the approval of a proposal of law to establish a National Police Unit to Fight against Cybercrime and the State Budget for 2017.
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