04 January 2016 Portugal publishes draft law incorporating EU Council Directive 2015/121 to include specific anti-abuse provision for participation exemption regime The Portuguese Council of Ministers published draft law no. 7/XIII/1.a on December 17, 2015, to amend the Portuguese Corporate Income Tax Code (CIT Code), by incorporating the European Union (EU) Council Directive 2015/121, of January 27, 2015 (approved to amend Directive no. 2011/96/EU), on the common system of taxation applicable in the case of parent companies and subsidiaries of different EU Member States into the Portuguese legal system. It is important to note, however, that as this is a draft law and amendments may be made during the legislative process. Document ID: 2016-0003 |
