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Golden Visa: Changes to the Rules on Obtaining a Residence Permit for Investment in Portugal
PLMJ, February 2021

The reasons for the changes to the Golden visa rules: A legislative authorisation in the 2020 State Budget 2020 authorised the Government to review the rules on residence permits for investment provided for in Law 23/2007 of 4 July by the end of 2020. The aim is to encourage investment in inland areas, urban regeneration, cultural heritage, activities of high environmental or social value, and productive investment and job creation...

Coronavirus: Business Interruption Insurance and COVID-19
PLMJ, February 2021

The judgment of the United Kingdom Supreme Court On 1 May 2020, the Financial Conduct Authority (“FCA”), the body that oversees the insurance industry in the United Kingdom, announced that it wanted to obtain a ruling from the English courts on the meaning and effect of the sample of business interruption clauses that it selected from eight insurers in particular...

Coronavirus: Restrictions on Exports of Vaccines Against COVID 19
PLMJ, February 2021

Following the differences that came to light with AstraZeneca at the end of last week, the European Commission approved Implementing Regulation (EU) 2021/111 of 29 January 2021, which came into force on Saturday, 30 January. The Regulation prohibits the unauthorised exportation of vaccines against SARS-CoV-2 outside the European Union...

Coronavirus: Employment Support Measures
PLMJ, February 2021

Following the renewal of the state of emergency, Decree 3-A/2021 of14January of the Presidency of the Council of Ministers, determines the closure of various types of establishments. Inthiscontext, the employment support measures were amended by Decree-Law 6-C/2021 of 15 January and Decree-Law 6-E/2021 of15January, which we summarised below. 1...

Coronavirus: Restrictions on Exports of Vaccines against COVID-19
PLMJ, February 2021

Brief notes on Commission Regulation 2021/111 of 29 January 2021 Following the differences that came to light with AstraZeneca at the end of last week, the European Commission approved Implementing Regulation (EU) 2021/111 of 29 January 2021, which came into force on Saturday, 30 January. The Regulation prohibits the unauthorised exportation of vaccines against SARS-CoV-2 outside the European Union...

Angola: General State Budget for 2021:Main Tax Changes
PLMJ, February 2021

Angola's General State Budget for 2021 (“GSB 2021”) came into force on 1 January 2021 and was approved by Law 42/20 of 31 December. It introduced the following tax changes: Value Added Tax • Definition of the scope of application of Value Added Tax (“VAT”) Individuals or legal entities are now excluded from the scope of VAT when their turnover or import transactions are no more than Kz (AOA) 10 million...

Portuguese Competition Authority – Overview 2020
PLMJ, February 2021

Some facts and figures that set out the landscape of merger control, antitrust enforcement and competition litigation in Portugal in 2020. Interim Measures The PCA ordered the Portuguese Professional Football League to suspend its decision preventing teams in the First and Second Football Leagues from signing players that have unilaterally terminated their contracts due to the COVID-19 pandemic...

News – Banking and Finance and Capital Markets 4th Quarter of 2020
PLMJ, January 2021

I. Banco de Portugal Communication of Banco de Portugal on the Synopsis of Behavioural Supervisory Activities - first half of 2020. Communication of Banco de Portugal on the imposition of a capital reserve on institutions identified as “other systemically important institutions”. Banco de Portugal Communication on the Economic Bulletin of October 2020. Communication of Banco de Portugal on the implications of Brexit...

News – Banking and Finance and Capital Markets 3rd Quarter of 2020
PLMJ, January 2021

Banco de Portugal Communication on the Retail Banking Markets Monitoring Report of 2019. Banco de Portugal Communication on the deadline for restoration of capital and liquidity reserves...

Angola: New Public Procurement Law
PLMJ, January 2021

A new Angolan Public Procurement Law (“PPL”) has been approved recently. Law 41/20 of 23 December revokes Law 9/16 of 16 June and will enter into force on 22 January 2021. The new law will apply to all public procurement procedures beginning after that date and to the performance of subsequent contracts...

State Budget Law for 2021: Main Tax Measures
PLMJ, January 2021

Introductory note The State Budget Law for 2021, which was published on 31 December 2020, comes at a very difficult time that is one of great uncertainty for the State and for the country. It is clear from the outset that the changes to the tax laws are limited in scope and the focus is on issues considered essential and a priority. For example, there are absolutely no amendments to the laws regulating taxpayers’ guarantees or tax justice...

Coronavirus: New Measures to Support Tenants
PLMJ, January 2021

The Covid-19 pandemic has led to the adoption of a set of exceptional and temporary measures to prevent the spread of SARS-CoV-2 and to the introduction of various forms of support intended to mitigate the economic impact of this situation...

Brexit-Portugal – Temporary Permission Regime
PLMJ, December 2020

Decree-Law 106/2020 of 23 December (the “TPR Law”), which was published on 23 December, sets out a Temporary Permissions Regime (the “Portuguese TPR”) for UK entities that provide financial services in Portugal under the freedom to provide services or freedom of establishment as provided for in the applicable EU legislation (the “EU Passport”)...

News - Competition Law and Policy 3rd Quarter 2020
PLMJ, December 2020

PORTUGAL I. Courts The Competition Court reduces fine of EUR 38.3 million imposed on EDP and Sonae by 10%On 30 September 2020, the Competition, Regulation and Supervision Court (Competition Court) reduced by 10% the fine of EUR 38.3 million imposed by the Portuguese Competition Authority (PCA) on EDP and SONAE in May 2017...

Supreme Administrative Court Standardises Case Law: Administrative Courts have Jurisdiction to Enforce Urban Planning Fines
PLMJ, December 2020

On 7 October 2020, Judgment to Standardise Case Law of the Supreme Administrative Court no. 4/2020 was published in the official gazette, Diário da República1 ...

Coronavirus: Extraordinary Business Viability Process
PLMJ, December 2020

A range of business support mechanisms have been introduced to face the crisis caused by the COVID-19 pandemic. Among them, the recent Law 75/2020 of 27 November has created a series of measures in the field of restructuring and insolvency procedures. The stand-out among these new procedures is the Extraordinary Business Viability Process (Processo Extraordinário de Viabilização de Empresas referred to here by it Portuguese initials, “PEVE”)...

Coronavirus Digest No. 6 Patents and Other Intellectual Property Rights
PLMJ, December 2020

The world is desperately seeking a vaccine and treatments against COVID-19 and the answer will also be found in intellectual property. For this reason, PLMJ and Inventa International have joined forces toprepare a Digest on these issues that is continuously updated...

Exceptional Rules for Products to Prevent Spread of COVID-19
PLMJ, November 2020

Introduction The rapid spread of COVID-19 pandemic has led to a significant increase in demand for medical devices (MDs) and personal protective equipment (PPE), masks for social use (textile articles) and other products destined to prevent the spread of the disease. As a result, it became clear that there was insufficient supply to meet existing needs during the state of emergency and the subsequent period...

Coronavirus: Mandatory Remote Working
PLMJ, November 2020

Decree-Law 94-A/2020 of 3 November amends, among others, Decree-Law 79-A/2020 of 30 September, which established “exceptional, transitional arrangements for reorganisation of work”. Its aim was to minimise the spread of COVID-19. The Decree-Law makes remote working mandatory for all workers whose place of work is located in a geographical area where the epidemiological situation justifies it...

Coronavirus Digest No. 5 Patents and Other Intellectual Property Rights
PLMJ, October 2020

The world is desperately seeking a vaccine and treatments against COVID-19 and the answer will also be found in intellectual property. For this reason, PLMJ and Inventa International have joined forces toprepare a Digest on these issues that is continuously updated...

Coronavirus Angola: Update of Public Calamity Situation Measures
PLMJ, October 2020

Due to the worrying evolution of the epidemiological situation currently afflicting the country, Presidential Decree no. 276/20 of 23 October 2020 has been enacted to update the preventive and control measures for the spread of COVID-19. Overall, there is a strengthening of the previous preventive measures established in Presidential Decree no. 256/20, of 8 October 2020...

Angola: New Local Content Rules for the Oil Sector
PLMJ, October 2020

The new legal framework applicable to the Angolan oil sector was approved by Presidential Decree 271/20 of 20 October (the "Decree"). The Decree makes a substantial change to the rules on local Angolan content applicable in the sector and it naturally repeals Order 127/03 of 25 November.The new legal framework now extends to service providers and suppliers of goods and services to the oil sector ("Providers") and not only which oil companies (i.e...

Special Public Procurement Measures
PLMJ, October 2020

A. Introduction and sequence The final vote on Draft Law 41/XIV was held on 16 October and the new law establishes special public procurement measures and amends both the Public Procurement Code and the Code of Procedure in AdministrativeCourts. Given the number, releva nce a nd depth of the amendments introduced by the approval of the draft law, we are now assessing the new special public procurement measures and the amendments to the codes mentioned above will be addressed later on...

Recent Changes to Value Added Tax
PLMJ, October 2020

E-commerce: New VAT rules Law 47/2020 was published on 24 August to implement articles 2 and 3 of Council Directive (EU) 2017/2455 of 5 December 2017, and Council Directive (EU) 2019/1995 of 21 November 2019, modifying the operation of the Value Added Tax (“VAT”) system in intra-EU and international e-commerce. This legislation enters into force on 1 January 2021...

The Impact of VAT on Your Business in China
PLMJ, October 2020

Defining your strategy and analysing the market are crucial when making the decision to invest in China, but the tax efficiency of the business has its own specific issues and investors should not neglect them either. The Chinese tax system has particular characteristics that you must get to know before investing. In this informative note, we will address some basic aspects of value added tax and the invoicing system...

 

 

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