Latest Treaty Updates: Portugal
Treaty Update: Uruguay - Portugal
17/5/2012
According to preliminary media reports, on May 2, 2012, Uruguay's parliament approved a law ratifying the pending DTA signed between Portugal and Uruguay.
Treaty Update: Portugal - Various
19/4/2012
Between April 13, 2012, and April 17, 2012, Portugal's legislative assembly ratified a total of eight DTA, agreements with: Qatar, signed on December 12, 2011; Japan, signed on December 19, 2011; Hong Kong, signed on March 22, 2011; Panama, signed on August 27, 2010; the United Arab Emirates, signed on January 17, 2012; Colombia, signed on August 30, 2010; Luxembourg (protocol) on September 7, 2010; and Norway, signed on March 10, 2011.
Treaty Update: Portugal - Various
5/3/2012
DTAs between Portugal and the following nations were ratified by the Portuguese parliament on February 28, 2012: Colombia; the United Arab Emirates; Hong Kong; Japan; Luxembourg; Norway; Panama; and Qatar.
Treaty Update: Portugal - Panama
18/1/2012
Portugal's Council of Ministers approved a draft resolution on January 12, 2012, endorsing the DTA between Portugal and Panama.
Treaty Update: Isle of Man - Portugal
11/1/2012
According to a January 9 announcement by the Manx government, the TIEA between the Isle of Man and Portugal will enter into force on January 18, 2012.
Treaty Update: Japan - Portugal
21/12/2011
According to Japan's Ministry of Foreign Affairs, a DTA between Japan and Portugal was signed on December 19, 2011.
Treaty Update: Qatar - Portugal
16/12/2011
According to the Portuguese Ministry of Finance, a DTA between Qatar and Portugal was signed on December 12, 2011.
Treaty Update: Japan - Portugal
13/12/2011
The Japanese Ministry of Foreign Affairs announced on December 12 that an agreement in principle has been reached by negotiators on a DTA between Japan and Portugal.
Treaty Update: Timor-Leste - Portugal
13/10/2011
According to preliminary media reports, a DTA was signed between East Timor and Portugal on September 27, 2011.
Treaty Update: Bahrain - Portugal
8/9/2011
According to preliminary media reports, the government of Bahrain has approved the signing of a DTA with Portugal.
Treaty Update: Switzerland - Portugal
31/8/2011
The Swiss Federal Council has announced that Switzerland and Portugal have initialled a Protocol revising the existing DTA between the two countries to incorporate provisions for the exchange of tax information on request.
Treaty Update: Norway - Portugal
8/7/2011
According to preliminary media reports, Norway ratified its DTA with Portugal on June 16, 2011. The DTA was signed on March 10, 2011.
Treaty Update: Portugal - Anguilla
23/6/2011
According to a Portuguese Finance Ministry release, dated June 17, 2011, a TIEA with Anguilla has been signed. The TIEA is based on the OECD model, and provides for the exchange of information about the movement of funds, along with ownership of companies, foundations, trusts or other such vehicles.
Treaty Update: Portugal - Vietnam
23/6/2011
According to a Portuguese Finance Ministry release, dated June 20, 2011, the negotiations on a DTA have been concluded. The government hopes to sign the agreement by the end of the year.
Treaty Update: Portugal - Guinea-Bissau
23/6/2011
According to a Portuguese Finance Ministry release, dated June 20, 2011, the Guinea-Bisseau National Assembly has completed its ratification of the DTA, meaning it can enter into force. The treaty was signed on October 17, 2008.
Treaty Update: Portugal - Japan
23/6/2011
According to a Portuguese Finance Ministry release, dated June 20, 2011, Portugal and Japan have concluded negotiations on a DTA. The government hopes to sign an agreement by the end of 2011.
Treaty Update: Japan - Portugal
22/6/2011
According to the Japanese Foreign Ministry, negotiations were held from June 20-21, 2011.
Treaty Update: Portugal - Peru
22/6/2011
The Portuguese Finance Ministry said on June 16, 2011 that negotiations had begun. The government hopes to conclude the talks by the end of 2011.
Treaty Update: Japan - Portugal
22/6/2011
According to the Japanese Foreign Ministry, negotiations were held from June 20-21, 2011.
Treaty Update: Portugal - Peru
22/6/2011
The Portuguese Finance Ministry said on June 16, 2011 that negotiations had begun. The government hopes to conclude the talks by the end of 2011.
Treaty Update: Portugal - Gabon
22/6/2011
The Portuguese Finance Ministry said on June 14, 2011 that negotiations had begun. The government hopes to conclude the talks by the end of 2011.
Treaty Update: Portugal - Senegal
22/6/2011
The Portuguese Finance Ministry announced on June 7 that negotiations had commenced.
Treaty Update: Portugal - Gabon
22/6/2011
The Protocol incorporates the OECD standard on the exchange of tax information into the existing DTA. The original DTA was signed on July 24, 2008.
Treaty Update: Portugal - Peru
20/6/2011
The Portuguese Finance Ministry said on June 16, 2011 that negotiations had begun. The government hopes to conclude the talks by the end of 2011.
Treaty Update: Portugal - Gabon
20/6/2011
The Portuguese Finance Ministry said on June 14, 2011 that negotiations had begun. The government hopes to conclude the talks by the end of 2011.
Treaty Update: Portugal - Senegal
13/6/2011
The Portugues Finance Ministry announced on June 7 that negotiations had commenced.
Treaty Update: Portugal - Senegal
13/6/2011
The Portuguese Finance Ministry announced on June 7 that negotiations had commenced.
Treaty Update: Portugal - Uruguay
27/5/2011
Ratified by Portugal
Treaty Update: Portugal - Hong Kong
27/5/2011
The DTA determines the allocation of taxing rights between Hong Kong and Portugal and the relief on tax rates on different types of passive income. Withholding tax rate on dividends received from Portugal is 10%, except in the case of a beneficial owner being a company (other than a partnership) holding directly at least 10% of the capital of the paying company. Portugese withholding tax on interest is capped at 10%, and Portuguese withholding tax on royalties is capped at 5%. Hong Kong airlines operating flights to Portugal will be taxed at Hong Kong's corporation tax rate, which is lower than that of Portugal; and profits from international shipping transport earned by Hong Kong residents that arise in Portugal, which are currently subject to tax there, will not be taxed. It also incorporates the OECD standard on the exchange of tax information.
Treaty Update: Portugal - Mozambique
25/5/2011
The agreement provides for the exchange of information to the OECD standard.
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Latest News
The Swiss Federal Council has announced that it has initialled two agreements amending the double tax avoidance treaties with Colombia and Portugal.
Portugal Expands Tax Treaty Remit 24/6/2011
Portugal is to add to its collection of tax treaties still further, with the announcement that negotiations have been concluded with two key countries, and that a new tax information exchange agreement has been signed.
Portugal Begins New DTA Negotiations 21/6/2011
The Portuguese government is seeking to expand its tax treaty network, beginning negotiations with three new countries over the last month: Peru, Gabon and Senegal.
Hong Kong, Portugal Sign DTA 23/3/2011
Hong Kong’s Secretary for Financial Services and the Treasury, Professor KC Chan (pictured), and Portuguese Consul-General, Manuel Carvalho, signed a double taxation agreement between their two jurisdictions in Hong Kong on March 22.
Luxembourg Approves Multiple Tax Treaties 8/2/2011
During a recent meeting, Luxembourg’s governing council adopted the bill providing for the approval of bilateral tax agreements with Barbados and Panama, as well as for the approval of amendments to multiple existing bilateral tax treaties.
EU Launches Multi-Year Review Of Cross-Border Taxation 23/12/2010
The European Commission has published a Consultation, which marks the commencement of a comprehensive multi-year review of the major cross-border issues faced by EU citizens, and proposes solutions for them.
Portugal Eyes DTA With Angola 11/11/2010
The Portuguese Secretary of State for Fiscal Affairs, Sergio Vasquez has announced that discussions with authorities in Angola have begun towards the negotiation of a convention for the avoidance of double taxation with respect to taxes on income.
Bangladesh, Portugal To Negotiate DTA 7/10/2010
Portugal and Bangladesh have agreed that they will negotiate a bilateral double taxation agreement.
Luxembourg, Portugal Sign Revised DTA 14/9/2010
During a recent visit to Portugal, Luxembourg’s Foreign Minister Jean Asselborn and his Portuguese counterpart Luis Amado signed a protocol amending the existing double taxation agreement in place between the two countries.
Panama Expands Tax Agreement Network 8/9/2010
Panamanian Vice President and Foreign Minister Juan Carlos Varela has flown to Europe to sign double taxation treaties with Portugal, Italy, Spain, France, and Luxembourg.
Colombia, Portugal Sign DTA 6/9/2010
A double taxation agreement signed between Colombia and Portugal adds to those already concluded by Colombia with Spain, Switzerland, Chile, Canada, Mexico and South Korea.
Panama To Sign DTA With Luxembourg 6/7/2010
The Panamanian government has finalized negotiations in Luxembourg ahead of the signing of a treaty to avoid double taxation between the two countries, announced deputy economy minister, Frank De Lima, who led the negotiating team for Panama.
Hong Kong Property Taxes Reviewed 16/3/2010
Hong Kong’s Financial Secretary, John C Tsang, made the traditional post-budget speech at the Joint Business Community Luncheon on March 12 and, in particular, reviewed the tax measures taken to increase the transaction cost of property speculation so as to reduce the risk of a property bubble being created.
NZ Emissions 'Tax' Attacked 15/3/2010
The ACT New Zealand Party, a member of the country’s present coalition government, has continued its opposition to New Zealand’s new carbon emissions trading scheme, calling it a tax that will increase inflation in the economy.
Australia Promised Full Debate On Tax Review 15/3/2010
Following indications that the Australian government was thinking of a delay to the release of the Henry tax review, the Treasurer, Wayne Swan, has now confirmed that it will be issued in good time for a full debate on any proposed tax changes.
Orascom Loses Algerian Tax Appeal 12/3/2010
Egyptian telecom company, Orascom Telecom, has announced that its Algerian subsidiary, Orascom Telecom Algérie, has received a rejection to its appeal, made in December last year, against the notice for taxes and penalties it had received from the Algerian tax authorities the month previously.
Switzerland, Slovakia Initial Revised DTA 12/3/2010
It has recently emerged that Switzerland and Slovakia have initialled a revised bilateral double taxation agreement, containing the Organization for Economic Cooperation and Development’s standard on tax information exchange.
UK Budget To Hit The Rich 12/3/2010
Wealthy individuals may have less than two weeks to put plans in place to reduce the tax impact of the Chancellor’s pre-election Budget, warns PKF Accountants and business advisers.
IRS Offers Help To Struggling Taxpayers 14/3/2010
The US Internal Revenue Service has announced several additional steps it is taking this tax season to help people having difficulties meeting their tax obligations because of unemployment or other financial problems.
Baucus Seeks Trade Preference Reform 15/3/2010
Senate Finance Committee Chairman Max Baucus is leading efforts for reform of US trade preference programs accorded to developing countries.
Jersey Riding Out Onshore Storm 15/3/2010
Jersey will overcome the evolving challenges being faced by offshore international financial centres, Geoff Cook, Chief Executive of Jersey Finance, told participants at a Breakfast Briefing in London.
OECD Urges Fiscal Policy Shift 12/3/2010
Governments must now gear their economies towards jobs, international competitiveness and increasing the tax-take, the Organization for Economic Cooperation and Development has said in its latest ‘Going for Growth’ report, analyzing the next step for recovering economies.
BVI To Review Taxes And Fees 15/3/2010
British Virgin Islands Prime Minister, Ralph O’Neal has said that the territory will run a budget surplus during 2010, although the government still intends to review indirect taxes and fees on financial services.
Germany Approves Liechtenstein TIEA 15/3/2010
Germany’s Cabinet has recently approved a bill pertaining to the bilateral tax information exchange agreement with Liechtenstein.
UAE Completes VAT Study 12/3/2010
Authorities in the United Arab Emirates are inching closer to the introduction of a value-added tax.