AVM

NEWSLETTER
AUGUST 2015

Private investment law: profits, dividends transfer and tax benefits
The new Private Investment Law (Lei do Investimento Privado - LIP), in force since August 11th, regulates profits and dividends transfer and tax benefits open for certain investment operations in Angola. The anticipated benefits and incentives apply to external investments and intern investments, according to the new legal regime Read More

Angola

New Private Investment Law: foreign investment operations
The new Private Investment Law determines that foreign investors must establish partnerships with Angolan investors to invest in the several areas, namely Construction, Hotel and tourism, Transportation and Telecommunications  Read More
New Private Investment Law in force
The new Private Investment Law was already published and applies to investment contracts already pending approval, and to the new ones that will be celebrated according to the new legal regime   Read More
Fees payable to technology solutions or computer systems now defined
Collection of fees for issuing registry certificates on public and private businesses' technical competency and capability in IT and communication domains, and for approval, auditing and supervision of technology solutions or computer systems were recently approved Read More

Brazil

eSocial: changes in reporting obligations as from 2016
Completion and delivery of the forms concerning worker's statements by the companies with billing over R$ 78 million in 2014, will change as from September 2016 Read More
Tax debts settlement and tax planning statement
The recently created Tax Litigation Reduction Program (Programa de Redução de Litígios Tributários - PRORELIT) allows taxpayers to settle tax debts past due until 30 June 2015, with special conditions Read More

Macao

Qualifications for Urban Construction and Urban Planning
The new regulation for the system of qualifications as regards urban construction and urban planning, accreditation and registration to obtain the professional title of architect, landscape architect, engineer or urban planner, as well as the registration and qualification for the performance of the tasks of drawing up projects, direction or supervision of works entered into force on August 11th Read More
New Council for Architecture, Engineering and Urban Planning
As part of the system of qualifications as regards urban construction and urban planning fields, the Government of Macao S.A.R. (MSAR) proposed the creation of the Council of architecture, engineering and urban planning, for accreditation and registration of the respective areas of expertise   Read More

Mozambique

Money laundering and terrorism financing fight
Since August 16th, new guidelines disclosed by the Bank of Mozambique  establishes that the financial institutions must implement different measures targeting money laundering and terrorism financing Read More
Credit Information system for private management approved
On July 29th the parliament of Mozambique approved a law proposal which creates credit information system for private management. Private Management Credit Centres will register Information regarding people that need to use a credit card   Read More
Mozambique updates the price of sugar
The Government analyzed and approved the reference prices for sugar. Therefore, the price of sugar is fixed at USD 806 /ton, for raw sugar and USD 932 /ton for refined sugar  Read More

Portugal

CMVM wants to review selection of directors of listed companies
The Portuguese Securities Market Commission (CMVM) wants to change the Corporate Governance Code, namely it defends the creation of a selection and assessment committee for candidates to positions in listed companies administration Read More
Auditing and official review supervision with new rules
The new legal regime for auditing supervision and Certified Auditors' Association Statute shall enter into force in January 1st 2016. CMVM shall henceforward be the relevant authority for the regulation and public supervision of the auditing activity Read More
Portugal exchanges financial information with USA
Portugal and the United States of America (USA) recently signed a bilateral agreement under Account Tax Compliance Act (FATCA), that regulates the information exchange concerning financial accounts kept in financial institutions in Portugal Read More

East Timor

East-Timor Oil Fund produces report
East-Timor Oil Fund had a 16.86 billion dollars capital in the end of June 2015, with a 25 million dollars negative return during the quarter, according to the quarterly report produced by the East-Timor Central Bank Read More
Committee for Tax Reform created
The Timorese Council of Ministers recently approved a diploma creating the Committee for Tax Reform. This Committee shall provide legislative, procedural reforms, regulations and tax policies, and It shall also submit a Tax Reform Plan Read More

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