Portugal: tax changes in 2023 due to the approval of the General State Budget
Law 24-D/2022 of 30 December approves the State Budget for 2023, with specific amendments to the Personal Income Tax Code (Código do IRS) and Corporate Income Tax. In this information note we briefly describe the relevant changes for individuals in the Global Mobility field. Non-Habitual Resident Regime There are no changes to the special tax […]
Portugal Important amendments to the Portuguese Golden Visa
On February 16, the Prime Minister of Portugal confirmed the measures leading to the substantial amendment of the Golden Visa program, emphasizing that the main reasons are due to the growing speculation in the real estate market. When will the changes come into effect? The changes will arise from the modification of the Foreigners Law, […]
Startup law and taxation of emerging companies
The commonly known as “Startups Law”, published on December 22, 2022 (the “Law”), has been wonderfully received by all those who are in the process of professionalizing their entrepreneurial projects, being able to benefit from international mobility and taxation regimes that are much more beneficial than under the previous legislation. In this note, we will […]
New Securities Market Law and Investment Services
On March 9th 2023, the Congress approved the new Securities Market and Investment Services Law (pending publication in the Boletín Oficial del Estado), which repeals Royal Legislative Decree 4/2015, of 23 October, approving the Consolidated Text of the Securities Market Law. With this regulation, the Spanish securities market aims to adapt, among other issues, to […]
Preliminary Draft Law on Structural Modifications
Following the extraordinary session of March 10, 2023 held by the Economic and Social Council of Spain, in which the Preliminary Draft Law on Structural Modifications of commercial companies transposing Directive (EU) 2019/2121 of the Parliament and of the Council of 27 November 2019 was introduced, amending Directive (EU) 2017/1132 regarding cross-border transformations, mergers and […]
New features of Royal Decree 249/2023 of 4 April regarding the revocation of the NIF of commercial companies.
Royal Decree 249/2023, of 4 April, which amends – among other regulations – Royal Decree 1065/2007, of 27 July, on the General Regulations on tax management and inspection actions and procedures and on the development of the common rules for tax application procedures, extends the list of cases in which the Tax Identification Number (“NIF”) […]
News about Housing Law
After more than a year since the Draft Law for the Right to Housing, the Congress approved it on Thursday 27 April. It is based on article 47 of the Spanish Constitution, which establishes the right to enjoy decent and adequate housing. Its main objective is to provide the Autonomous Communities and City Councils with […]
Reduction of the share capital of LLC below the legal minimum of 3,000 euros
The General Directorate of Legal Security and Public Faith interprets extensively Article 4.1 of the Capital Companies Act (LSC). The DGSJFP has interpreted said article in order to admit the possibility of reducing the minimum capital of a limited liability company below the minimum capital of 3,000 euros and based on the rule of the […]
Internacional Business Centre of Madeira
This information note seeks to clarify some points for our Clients regarding the Special Tax Regime for the International Business Center of Madeira (hereinafter, the “IBC Regime”), through some notes that aim to dispel possible misconceptions. First of all, it is essential to debunk the idea that the scheme has been repealed or that it […]
Donation rebate with document formalized before a foreign Notary public
The Regional Economic-Administrative Court of Madrid (TEAR) recognizes the ISD rebate even with a document formalized by a foreign Notary Public. In a Resolution dated May 12th, 2023, the TEAR upheld the claim filed against the provisional ISD liquidation of the Community of Madrid, determined by the DGT of the Community of Madrid, which denied […]