
Amendment of Article 365.3 of the Capital Companies Act (LSC): Nine Months On
Executive summary In January 2025, the Organic Law 1/2025 was introduced, which amended article 365.3 of Spain’s Companies Act (LSC). The reform grants company directors
The Portuguese State Budget for 2025, enacted through Law no. 45-A/2024 of December 31, introduces a series of tax measures aimed at at strengthening the competitiveness of companies and improving employees compensation. The following changes took effect on January 1, 2025.
1. Adjustments to the Corporate Income Tax (IRC)
(a) Reduction in Corporate Tax Rates:
2. Portuguese Property Transfer Tax (IMT): An update of the brackets used to determine the applicable IMT rate for the transfer of urban properties or autonomous units of urban properties exclusively intended for housing is planned, with an increase of 2,3%. The threshold above which IMT is payable is raised from EUR 101.917 to EUR 104.261.
3. Reporting obligations: The obligation to submit the SAF-T (PT) file related to accounting has been deferred once again, now applying to the 2026 tax periods and beyond, to be submitted in 2027 and in subsequent periods.
4. Value Added Tax (VAT): The extension of the possibility to use PDF invoices (without a digital signature or certification seal) as electronic invoices for all purposes under tax legislation is once again anticipated, now until December 31, 2025.
Executive summary In January 2025, the Organic Law 1/2025 was introduced, which amended article 365.3 of Spain’s Companies Act (LSC). The reform grants company directors
Spain’s National Securities Market Commission (CNMV) has announced the creation of an Expert Committee to revise the Good Governance Code for listed companies (CBG). The
Did you know that more than 85% of companies in Spain are family‑owned? This business model not only drives employment and the national economy but