New Investment Tax Code

The Council of Ministers approved a new Investment Tax Code and amended the regime of tax benefits for productive investment, and the corresponding implementation  regulations. The publication in the Diário da República (Portuguese official gazette) is  now awaited.

Amendment of Corporate Income Tax (“IRC”)

The Council of Ministers has approved an amendment to the CIT Code, regarding the  transposition for national legislation of the European Union directive relating to parent  companies and subsidiaries of different Member States. It shall foresee the possibility for  two or more Portuguese tax resident companies of the same company group to benefit  from the Special Regime for the Taxation of Company Groups (“RETGS”) even if the  parent company is not Portuguese tax resident.