Ministry of Finance

Ordinance No. 77-A/2014, of 31 March

Regulating the form of attribution to the Autonomous Regions of Azores and Madeira of their income from Value Added Tax (“VAT”), determined through a per capita regime, adjusted by means of the differential between the regional and the continental VAT rates, in accordance with the provisions of Article 28 of Organic Law No. 2/2013, of 2 September.

A transfer on a monthly basis is maintained, based on the provisional value determined in accordance with the formula established, which will be subject to the adjustments to be made in the following year, after the closure of the State General Account , and which correspond to the balance between the provisional and the effective values of the year to which the tax respects.

Ministry of Foreign Affairs Notice No. 48/2014 of 3 April

Making known that the formal requirements for the entry into force of the Convention between the Republic of Portugal and the Republic of Peru to avoid double taxation and prevent tax evasion in respect of income (“CDT”), signed in Lisbon on 19 November 2012 have been complied with.

The CDT entered into force on 12 April 2014, and will take effect:

  • with regard to Portugal:
    • In respect of withholding taxes, where the taxable fact occurs on or after 1 January 2015;
    • In respect of remaining taxes, with regard to income produced in any tax year starting on or after 1 January 2015;
  • with regard to Peru:
    • In  respect  of  Peruvian  taxes  and  amounts  paid,  credited  to  the  account  or accounted for as charges, on or after 1 January 2015.