AVM

NEWSLETTER
MAY 2015

Portugal approves new rules for golden visas
Portuguese Parliament approved the last version of the draft law that lays down new requirements to reside in Portugal via investment in this country. It includes new investment activities that allow access to a residence permit for investment purposes - national cultural heritage recovery or maintenance and research - together with new minimum investment requirements and activity conservation Read More

Angola

Sonangol sets new petrol prices
A new price list for petrol entered into force on the last day of April, determined by Sonangol. The Minister of Finance authorised this company to update the prices of petrol-derived products  Read More
Cash deposits and transfer checks deposits
The National Bank of Angola (BNA) established  the timeframes for transfers, cash remittance and funds release for beneficiaries following cash and transfer checks deposits or check remittance Read More
Angola Sovereign Fund creates entrepreneurs incubators
Angola Sovereign Fund (FSDEA) announced the creation of five additional funds for investments dedicated to high efficiency industries and promotion of socioeconomic development in Angola and sub-Saharan region Read More

Brazil

Major taxpayers obliged to publish financial statements
All Brazilian companies qualified as major taxpayers in accordance with the Brazilian law, regardless of their corporate form, are required to publish their financial statements in the Official Gazette and in a newspaper of wide circulation Read More
Contribution to PIS/Pasep and increased Cofins
Brazilian Government re-established the incidence of the Contribution to PIS/PAsed and Cofins on financial revenues paid to  legal persons subjected to the non-cumulative assessment regime Read More
Federal Revenue requires all people over 15 must have a tax number
Individuals over the age of 15 listed as dependants in a statement of Annual Adjustment of Individuals Income tax must be enrolled in the registration of Individuals, thus obtaining the taxpayer number Read More

Macao

Macao committed to China Free Trade Area
Government of Macao pledged its support to construction and encouragement to companies and population participation in China Free Trade Zone pilot project - Guangdong Read More
Macao limits compensations for terminating employment contracts
The assessment of compensations in the event of termination without a valid reason, at the employer's initiative is limited, since 21st April, to 20,000 pataca Read More

Mozambique

Bank Agent activity regulated
The Bank of Mozambique defined the rules guiding access to Bank Agent profession. These rules apply to banks and microbanks aiming at extending their activity by hiring bank agents in the national territory Read More
Granting licenses to road transports
Until January 2016, the capacities to grant a license to road transports is the responsibility of the Minister of Transports and Communication in the Permanent Secretariat Read More

Portugal

IRC return rules defined
All regulation on Corporate Tax return procedures, concerning corporate tax payable under IRC Form 22, was published, thereby strengthening tackling tax fraud an evasion Read More
Portuguese Labour Code lays down gender equality
The amendment imposes news obligations for employers, that can also access to support from the measure to Foster Gender Equality in the Labour Market, to fight job discrimination between men and women in the labour market Read More
Funds with new annual accounts approval regime
Legal framework of risk capital syndication funds (FSCR) and of the Financing support fund for innovation (FINOVA) was ammended in order to conform the annual accounts approval schemes to the schedule for approving the accounts to entities in which shares are hold Read More

East Timor

New transfer system for all the country
East Timor Central Bank launched a new system that will allow to effect electronic payments in any location in East Timor between individuals, companies or public entities Read More
Proposal for drug traffic and human traffic approved
The Council of Ministers in Timor has recently approved a draft law on Combat against human traffic and also a draft law on the Combat against drug traffic Read More

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