AVM

NEWSLETTER
JULY 2015

Commercial companies incorporation easier in Angola
In force since June 17th the new measures to simplify the incorporation of commercial, single member and multi member companies. This diploma, yet to be regulated until September 15th, namely the rules establishing companies' incorporation through a government site, is part of the «Programa Angola Investe» (Angolan investment program) and expects measures aimed at reducing administrative obstacles to the process of building new companies, and fully realize the right to free private initiative for economic development and business activity.  Read More

Angola

Special contribution enforced
The Special Contribution Legal Regime on current invisibles exchange operations was recently published. This regime entered into force last June 30th and lays down a 10% rate on the effected transfer amount.  Read More
Finantial Institutions with a new regime
In June 17th entered into force the new regime setting the establishing procedures, the pursuit, supervision, intervention process and penalties regime for financial institutions. Read More
New rules for tourism
Following the entry into force of the diploma on Tourism in June 15th, the concepts and duties of public agents and private agents in this activity were established. Read More

Brazil

Information concerning financial operations
A Normative Ruling of the Brazilian Federal Revenue (Receita Federal do Brasil - RFB) was published, concerning the provision of information on financial operations of interest for the Brazilian tax authorities. Read More
Provisional measure of employment protection program
Government, companies and unions achieved an agreement that allows, during this year, to reduce up to 30% the working time for a six to 12 months period. Read More

Macao

Macao approves raise in tobacco tax
A proposal was recently adopted in the Parliament of the Macao Special Administrative Region (RAEM), that triples the Excise tax on tobacco now in force. Read More
Macao banns smoking in casinos
Several changes to the law on smoking prevention were adopted, namely the legislative framework of e-cigarettes consumption, and the smoke elimination either in casinos or tobacco products sale establishments,  Read More

Mozambique

Construction contractors under new rules
The construction contractor activity licensing regime was revised and entered into force as from May 22nd, and it separates the construction contractor and construction consultant, contrary to the former 2013 regime. Read More
Construction consultancy with a new regime
Since May 22nd the new rules for licensing companies aiming at pursuing construction consultancy are in force. However, construction consultancy companies already providing this activity must request the corresponding license until August 20th. Read More

Portugal

VAT settlement in bad debts
New procedures to submit the prior authorization application anticipated in the VAT Code for deduction of the tax associated to bad debts payable as from January 1st, 2013, were recently defined.  Read More
Golden Visas with new rules since July 1st
The legal regime regulating the the entry, sojourn, exit and expulsion of foreign nationals in Portugal was changed, namely regarding the activities eligible for granting residence permission in Portugal. There are now four new investment activities. Read More
New tax regime in free zone of Madeira
The new tax regime in free zone of Madeira applies to the entities licensed between January 1st, 2015 and December 31st, 2020, and will apply until December 31st, 2027. Read More

East Timor

East-Timor changes port fees
The Council of Ministers approved the first change to the Port Fees Regulation in East-Timor, providing the possibility for the Ministry of Public Works, Transportation and Communications to authorize fractioned or partial debts payment, as well as port fees reduction or exemption in special, duly substantiated situations, following consultation of the treasury. Read More

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