AVM

NEWSLETTER
JUNE 2015

New General Employment Law Approved in Angola
The New General Employment Law was published in the official journal, and it shall enter into force in September 13th. It changes the rules applicable to fixed term labour contracts and the mandatory procedures for alternative labour litigations resolution. It also establishes a limitation period for reinstatement requests by the workers in case of dismissal, and changes the amount of the compensations for termination of the contract, as well as disease compensation and compensation for extra work.  Read More

Angola

Angola 2015 Major Taxpayers List
This years' list of major taxpayers was recently published. It includes 524 taxpayers and they are allocated to the Major Taxpayers Tax Office. The list is available herein. Read More
Currency exchange offices may sell foreign currency up to 5,000 USD
Currency exchange offices can sell foreign notes and coins or cheques of trips to resident natural and legal persons up to USD  5,000, if they present an identification document Read More
Special levy approved by the Angolan Council of Ministers
The legal regime of the special levy on current invisibles exchange operations concerning outward transfers, for payment of services provision contracts of foreign technical support or management, was approved  Read More

Brazil

Increase of Social Contribution over the Profit of financial institutions
Brazilian Government increased from 15% to 20% the ratio of the Social Contribution over the Net Income (CSLL) due by legal entities of private insurances and capitalisation, as from September 1st 2015 Read More
Oil production in pre-salt increases 6,3% in Brazil
The pre-salt production increased 6,3% in April comparatively to March, and for the first time, the oil production exceeded 700 thousand barrels per day, achieving the production of 715,1 thousand barrels Read More

Macao

Macao banishes bearer bonds
As from July 1st, the latest changes in Macao's Commercial Code enter into force, specially the elimination of bearer bonds. Holders of bearer bonds, or their successors, must apply until July 1st 2016, at the issuing company, the conversion of their securities into registered securities. Read More
Companies with permanent activity in Macao have new rules
As from July 1st, companies pursuing a permanent activity in the RAEM, even though they have no registered office nor main administration within the RAEM,  are subjected to the provisions in the law on registration. These companies must appoint a representative with habitual residence in the RAEM and allocate a capital to its activity in the RAEM, and keep a record of the corresponding decisions. Read More

Mozambique

Entry, stay and exit for foreigners changes
New rules in force since December 31st 2014 regulate foreigners' entry, stay and exit, and establishes that all foreign citizens who wish to enter in Mozambique must have a valid visa for the intended purpose, present at a border post their passport and proof of sufficient means of subsistence. Read More
New rules for roads and protection areas
New rules are in force on public roads usage and its partial protection zones, applicable to all users and general public interfering with roads usage and conservation as well its partial protection areas, since the end of last year. Read More

Portugal

Failure to deliver non received VAT is not punished by the Portuguese Supreme Court
To harmonise jurisprudence, the Supreme Court of Justice (Supremo Tribunal de Justiça - STJ) decided that failure to deliver to the Tax Authority, in full or in part, VAT amounts over € 7,500 is only considered a crime when the agent actually received those amounts.  Read More
New construction activity legal regime in July
The new legal regime applicable to construction shall enter into force in July 3rd, and it regulates execution of works, including all the actions necessary to its realization.  Read More

East Timor

East-Timor signs agreement of visa-free with the European Union
The new visa regime previews the visa-free system  for the EU citizens travelling to East Timor territory and for the citizens of this country travelling to the EU for a period of 90 days, for each 180 day-period. Read More
East Timor is changing the rules for the entry and residence od aliens
The aim of the proposal is to regulate conditions and procedures for the entry, residence, exit and removal of alien and stateless persons from the national territory as well as the conditions for national entries and exits Read More

© 2015 AVM | All rights reserved.

AVM Advogados