"Os analistas internacionais são unânimes em considerar que estamos a passar por um Terceiro Choque Petrolífero. O clima económico degrada-se de dia para dia, conforme os indicadores assim o vão revelando. A indignação dos sectores económicos que vão desde os transportes, às indústrias e mais recentemente ao sector pesqueiro estão já a conduzir à paralisação dos mesmos.
Contudo, os lucros das três principais gasolineiras continuam a atingir níveis astronómicos, ao contrário da receita fiscal (com especial incidência do IVA) que tem decrescido significativamente após a diminuição da procura de combustíveis.
No entanto, o estado de Portugal é muito mais grave do que os políticos em geral deixam transparecer. Por exemplo, no combate ao ‘deficit’.
Há sinais de que o crescimento da receita fiscal em termos gerais começa a desacelerar ou mesmo a diminuir, comprovando mais uma vez a validade da teoria económica da Curva de Laffer. Esta curva explica que num determinado país, num determinado momento, há uma capacidade ou disponibilidade máxima de impostos que os contribuintes conseguem/aceitam pagar, voluntária ou mesmo coercivamente. Se tivermos em atenção alguns dos últimos acontecimentos no nosso país podemos concluir que o estado de alerta há muito passou a linha vermelha. É que o recente anúncio de reduzir o IVA em 1%, além de desequilibrar as já frágeis contas públicas, pode ter um efeito nulo no poder de compra das pessoas, desvirtuando por completo a boa intenção da iniciativa. É preciso mais coragem para enfrentar os feudos instalados. Um ténue sinal disso tem sido o rumor que paira sobre a Comissão dos Estudos Fiscais, a qual se encontra sob a tutela da Secretaria de Estado dos Assuntos Fiscais. A mesma encontra-se neste momento a estudar a hipótese de introdução da figura dos fundos fiduciários (mais conhecidos por ‘trusts’), o que já levantou o coro de protestos habituais, esgrimindo os tradicionais argumentos de que tais figuras desvirtuam o propósito quixotiano do Governo na luta contra a fraude e evasão fiscais.
Por outro lado, no nosso país, a profunda e verdadeira reforma da Administração Pública tarda em tornar-se uma realidade, não passando de projectos de intenções. Note-se que em cerca de duas décadas o peso do Estado na economia cresceu de 30% para quase 50% do PIB.
É pois preciso reestruturar profundamente todos os sectores da vida económica e social portuguesa, nomeadamente e em especial o sector público. O actual Governo tem demonstrado coragem para efectuar algumas reformas estruturais, nomeadamente na luta contra a burocracia. Todavia, a arma central para o combate à estagnação económica tem necessariamente de passar por uma efectiva e equilibrada redução da despesa pública.
A situação é tão complicada que apesar do elevadíssimo endividamento das famílias, o Governo não toma medidas para travar esse endividamento para evitar o decréscimo das receitas fiscais (os impostos como o IVA, produtos petrolíferos, automóveis etc. representam o grosso da receita fiscal em Portugal). Contudo, com um nível de endividamento das famílias a 130% e a crescer 10% ao ano, o consumo começará inevitavelmente a decrescer a breve prazo (sem contar com o novo ciclo de aumento de juros na União Europeia, que por si aumenta o endividamento sem qualquer acto de consumo).
A proposta apresentada pelo presidente francês Sarkozy de congelar o preço dos combustíveis, mesmo que não encontre eco na Europa, consiste no primeiro sinal de alerta de que a crise que se avizinha é mundial e atingirá tudo e todos. Para combater esta cruzada que se aproxima, ou pelo menos tentar minorar os seus efeitos, é preciso imaginação e espírito empreendedor. O nosso país pode aproveitar para criar instrumentos fiscais que verdadeiramente atraiam investidores e fortunas estrangeiras.
O estudo da viabilidade de implementação dos ‘trusts’ é um primeiro passo, se for efectivamente concretizado. Estamos na corda bamba, resta apenas saber para que lado vamos pender."(...)
Artigo publicado no DE de hoje pelo Colega Tiago Caiado Guerreiro
terça-feira, junho 24, 2008
Na Corda Bamba
segunda-feira, junho 23, 2008
Oposição à Execução - Despacho de Reversão
I - É a oposição à execução fiscal e não o processo de impugnação judicial ou a reclamação prevista no artº 276º do CPPT o meio processual adequado para o revertido impugnar contenciosamente o despacho que ordena a reversão, com fundamento no não exercício da gerência de facto ou de direito da sociedade originária devedora e na inexistência de culpa na insuficiência do património, fundamento este que se enquadra na al. a) do nº 1 do artº 204º do CPPT.
II - Tendo o contribuinte utilizado o processo de impugnação, só é possível a convolação se a petição inicial tiver sido apresentada no prazo da oposição.
(...)
Globalisation demands reform of UK corporation tax
Corporation tax should be reformed or replaced by a higher VAT rate (offset by lower National Insurance contributions) to reduce disincentives to invest in the UK, according to two studies commissioned by the Mirrlees Review of the British tax system, which is being chaired by Nobel prize-winner Professor Sir James Mirrlees for the Institute for Fiscal Studies.
The studies both argue that globalisation and the growth of the financial sector require a new approach to the taxation of profits in a small open economy. Unlike most EU governments, the UK currently taxes dividends received by UK-resident firms from their foreign subsidiaries as well as profits earned in this country. This creates a disincentive to locate headquarters in the UK.(...)
The studies both argue that globalisation and the growth of the financial sector require a new approach to the taxation of profits in a small open economy. Unlike most EU governments, the UK currently taxes dividends received by UK-resident firms from their foreign subsidiaries as well as profits earned in this country. This creates a disincentive to locate headquarters in the UK.(...)
Reembolso IVA - Alteração ao Despacho Normativo n.º 53/2005
A aplicação da regra de inversão do sujeito passivo a certos sectores de actividade, ainda que justificada numa maior eficácia no combate à fraude e evasão fiscais, não deve, todavia, criar constrangimentos financeiros desnecessários, pelo que, por uma questão de equidade, os sujeitos passivos cujas operações estejam em mais de 75 % abrangidas pela regra de inversão devem beneficiar de um prazo de reembolso de 30 dias, à semelhança do que já sucede com sujeitos passivos de outros sectores de actividade cujas operações sejam maioritariamente isentas ou não sujeitas com direito a dedução.
Assim, nos termos do n.º 9 do artigo 22.º do Código do Imposto sobre o Valor Acrescentado, aprovado pelo Decreto-Lei n.º 394-B/84, de 26 de Dezembro, determina-se o seguinte:
1 - É alterado o n.º 5 do Despacho Normativo n.º 53/2005, de 15 de Dezembro, que passa a ter a seguinte redacção:
«5 - O IVA cujo reembolso, de valor superior a (euro) 10 000, for solicitado por sujeitos passivos que efectuem operações isentas ou não sujeitas que conferem o direito a dedução, ou relativamente às quais a obrigação de liquidação do imposto seja da responsabilidade do adquirente e que representem, pelo menos, 75 % do valor total das transmissões de bens e prestações de serviços do respectivo período, e que não seja o primeiro reembolso, será restituído no prazo de 30 dias a contar da data da recepção do respectivo pedido.»
domingo, junho 22, 2008
State aid: Commission requests information about preferential tax regimes for retail distribution and banking cooperatives in Italy
The European Commission has asked Italy under EC Treaty state aid rules for information regarding preferential tax regimes for cooperatives operating in the retail, distribution and banking sectors in Italy. The Commission started reviewing the measures after receiving several complaints. The current investigation is designed to ensure that the measures are in line with the state aid rules in the future, as it appears that the measures existed before the EC Treaty entered into force and could therefore qualify as existing aid. In its analysis, the Commission is carefully balancing the equity and efficiency objectives pursued by the cooperative model against any possible distortions of competition that might derive from such measures. The Commission finds at this preliminary stage that the tax measures may not constitute state aid under some conditions and that if they do, that they are mostly compatible. For the measures concerning large cooperatives that might not be in line with EU state aid rules, Italy has the opportunity to comment on the Commission's analysis before any conclusions are reached. The initiation of the review process does not prejudge its outcome.(...)
TAX TREATIES AND HUMAN/CONSTITUTIONAL RIGHTS: BRIDGING THE GAP?
From the constitutional law standpoint, tax sovereignty does not imply unlimited tax power. Despite the leeway left to State authorities in the design of tax policies, Constitutions fix the framework within the limits of which tax power can be exercised.
These constitutional constraints cannot be ignored in the case of tax treaty-making power.
These constitutional constraints cannot be ignored in the case of tax treaty-making power.
sábado, junho 21, 2008
Conferência Internacional - Portugal/UE e os EUA
Conferência Internacional
Portugal /União Europeia e os EUA – Novas Perspectivas Económicas num Contexto de Globalização
23 a 27 de Junho
Auditório da Faculdade de Direito de Lisboa
PROGRAMA
Portugal /União Europeia e os EUA – Novas Perspectivas Económicas num Contexto de Globalização
23 a 27 de Junho
Auditório da Faculdade de Direito de Lisboa
PROGRAMA
Código de IVA - Dec. n.º 102/2008, de 20/06
No uso da autorização legislativa concedida pelo artigo 91.º da Lei n.º 67-A/2007, de 31 de Dezembro, altera e republica o Código do Imposto sobre o Valor Acrescentado, aprovado pelo Decreto-Lei n.º 394-B/84, de 26 de Dezembro, e o Regime do IVA nas Transacções Intracomunitárias, aprovado pelo Decreto-Lei n.º 290/92, de 28 de Dezembro.
O Código do IVA tem sido, por diversas vezes, objecto de alterações substanciais ao longo dos mais de 20 anos da sua vigência, consubstanciadas em mais de 60 leis e decretos-leis.
Este acervo legislativo teve as mais variadas proveniências, o que originou, desde logo, que a redacção dos preceitos fosse perdendo identidade, fruto das evoluções linguísticas.
Acresce que ao longo dos tempos se foram introduzindo alterações a nível orgânico, quer da estrutura do governo quer da própria administração tributária, bem como novas práticas e procedimentos administrativos, nem sempre devidamente reflectidos no corpo da lei.
Embora em menor escala, também o regime do IVA nas transacções comunitárias tem sofrido ajustamentos, o que requer igual atenção no que concerne à revisão e adaptação dos respectivos preceitos.(...)
Este acervo legislativo teve as mais variadas proveniências, o que originou, desde logo, que a redacção dos preceitos fosse perdendo identidade, fruto das evoluções linguísticas.
Acresce que ao longo dos tempos se foram introduzindo alterações a nível orgânico, quer da estrutura do governo quer da própria administração tributária, bem como novas práticas e procedimentos administrativos, nem sempre devidamente reflectidos no corpo da lei.
Embora em menor escala, também o regime do IVA nas transacções comunitárias tem sofrido ajustamentos, o que requer igual atenção no que concerne à revisão e adaptação dos respectivos preceitos.(...)
The Belgian Notional Interest Deduction
The notional interest deduction entitles Belgian companies and establishments to annually calculate a fictitious interest expense on their aggregate equity amount, thus reducing their taxable basis. Combined with the abolishment of the 0.5% capital tax, this tax feature will not only encourage Belgian taxpayers to strengthen their working capital, it will also reinforce the attractiveness of Belgium as a location for treasury and finance centres, capital-intensive companies (such as the Belgian Coordination Centres, whose specific tax regime will shortly expire) and headquarters. (...)
terça-feira, junho 17, 2008
Controlled Foreign Companies and Foreign Profits
Controlled Foreign Companies and Foreign Profits
‘‘There are two sorts of wealth-getting, as I have said. . .. The most hated sort, and with the greatest reason, is usury, which makes a gain out of money itself, and not from the natural object of it. For money was intended to be used in exchange, but not to increase at interest. And this term interest, which means the birth of money from money, is applied to the breeding of money because the offspring resembles the parent. Wherefore of the modes of getting wealth this is the most unnatural.’’
Canada: Two changes to the treatment of foreign exchange gains and losses
Recent additions to the Canadian Income Tax Act require, with retroactive effect, that Canadian tax results be determined using Canadian currency. Recent case law had called this proposition into question. The changes also require the conversion of any amount expressed in foreign currency that is relevant in computing Canadian tax results into domestic currency using the relevant rate of exchange quoted by the Bank of Canada at noon on the day on which the amount first arose, or such other rate of exchange as is acceptable to the minister of national revenue. The provision is retroactive and, absent ministerial discretion, rigid in the required method of conversion.
On March 7 2008, the minister of finance also announced proposed amendments to the Income Tax Act that would extend the treatment of accrued capital gains and losses on assets of a corporation upon an acquisition of control to accrued capital gains and losses on foreign currency debt obligations due to foreign currency fluctuations. As proposed, the new rules will apply only to debt and not to other liabilities such as swaps or other derivatives.
It appears that the proposed amendments will result in:
the required realisation of any inherent foreign exchange losses on debt on an acquisition of control, the ability to elect to realise accrued foreign exchange gains on debt on an acquisition of control, and the ability to utilise such losses to step up the basis of capital property and shelter realised foreign exchange gains on debt.
As proposed, the new rules apply to acquisitions of control after March 7 2008 subject to limited grandfathering rules and corporations can elect to have the proposed rules apply to acquisitions of control after 2005.
On March 7 2008, the minister of finance also announced proposed amendments to the Income Tax Act that would extend the treatment of accrued capital gains and losses on assets of a corporation upon an acquisition of control to accrued capital gains and losses on foreign currency debt obligations due to foreign currency fluctuations. As proposed, the new rules will apply only to debt and not to other liabilities such as swaps or other derivatives.
It appears that the proposed amendments will result in:
the required realisation of any inherent foreign exchange losses on debt on an acquisition of control, the ability to elect to realise accrued foreign exchange gains on debt on an acquisition of control, and the ability to utilise such losses to step up the basis of capital property and shelter realised foreign exchange gains on debt.
As proposed, the new rules apply to acquisitions of control after March 7 2008 subject to limited grandfathering rules and corporations can elect to have the proposed rules apply to acquisitions of control after 2005.
Conferência - APF - Caso Hollmann
A Conferência mensal das 5ªs feiras analisa um caso controverso do vasto mundo da fiscalidade. Convidámos para apresentar este tema o Senhor Dr. Manuel Anselmo Torres, Advogado, Sócio Fundador da Galhardo Vilão Torres, Sociedade de Advogados.
“O CASO HOLLMANN NO TRIBUNAL DE JUSTIÇA DAS COMUNIDADES EUROPEIAS: HISTÓRIA DE UM REENVIO PREJUDICIAL PORTUGUÊS”
DATA: 26 de Junho de 2008
HORA: 18 Horas
LOCAL: Salão Nobre da Associação Comercial de Lisboa – Rua das Portas de Santo Antão, nº 89
“O CASO HOLLMANN NO TRIBUNAL DE JUSTIÇA DAS COMUNIDADES EUROPEIAS: HISTÓRIA DE UM REENVIO PREJUDICIAL PORTUGUÊS”
DATA: 26 de Junho de 2008
HORA: 18 Horas
LOCAL: Salão Nobre da Associação Comercial de Lisboa – Rua das Portas de Santo Antão, nº 89
quinta-feira, junho 12, 2008
Tax Avoidance Schemes Regulations 2008
May 2008 - This document summarises the responses received by the Government to its November 2007 consultation document 'The Tax Avoidance Disclosure Regime: Improving the Scheme Reference Number System.
Our Public Notices are also available in large print, Braille or audio cassette, please contact our National Advice Service for further details.
This document is available in the following formats
Summary of Responses: Tax Avoidance Schemes Regulations 2008 (Acrobat PDF, 460KB)
Summary of Responses: Tax Avoidance Schemes Regulations 2008 (Acrobat PDF, 460KB)
Summer Course - Principles of International and Comparative Taxation
Summer Course - Principles of International and Comparative Taxation
The basic concepts and principles of international tax law from a truly international perspective. The IBFD Summer Course examines the main issues of international tax law. Topics covered are Tax Treaties, Permanent Establishments, European VAT, EC Tax Law, Transfer Pricing and Business Structures and Planning.
18 - 29 August 2008 Introductory
Location: Amsterdam Further information
The basic concepts and principles of international tax law from a truly international perspective. The IBFD Summer Course examines the main issues of international tax law. Topics covered are Tax Treaties, Permanent Establishments, European VAT, EC Tax Law, Transfer Pricing and Business Structures and Planning.
18 - 29 August 2008 Introductory
Location: Amsterdam Further information
Level: Introductory
Promoting Genuine Fiscal Competition should be EU aim
Corporate tax is back on the European agenda. France intends to use its presidency of the European Union later this year to pursue plans for a single, voluntary, corporation tax base for multinational companies.
The purpose of the common consolidated corporate tax base is that a company operating in several countries could choose to agree on one taxable profit total for the whole group. Tax revenues would then be charged and distributed among the countries where it operated, on the basis of a formula that took into account where the economic activity occurred and the domestic tax rate in each country.
This approach has some merits. A multinational which opted into the scheme would reduce its compliance burden, since it would be following just one set of tax rules. The regime would also allow losses in one part of a group to be offset against gains elsewhere.
More importantly, it could encourage genuine tax competition. If a company relocates its operations to a lower-tax economy, the government which has provided that environment should benefit. This is a different matter from allowing countries to divert tax revenues from profits generated in other countries. By declaring the profits of groups as a whole, the common tax base would prevent companies declaring their profits in low-tax jurisdictions even if they were earned elsewhere.
There are two main problems with the proposals. First, a voluntary scheme is not a very effective weapon to deal with the practice of exporting profits to low-tax jurisdictions. Yet compulsion would prevent countries from being able to compete as they should on the size and shape of the tax base.
Second, reaching agreement on a tax code and the basis of splitting revenues between countries would be very difficult and time-consuming, since the interests of EU countries differ so widely. Efforts to achieve accord might well be at the expense of more realistic fiscal improvements.
The goal for European fiscal policymakers should be a regime that enhances genuine competition among economies. It should allow countries to use tax as a basis for promoting themselves as places to do business. It should also aim to deter distortion of that competition by making it harder for multinational companies to seek their own advantage by breaking the link between where their activities generate profit and where those profits are taxed. Any moves France can make in that direction during its presidency will be welcome.
The purpose of the common consolidated corporate tax base is that a company operating in several countries could choose to agree on one taxable profit total for the whole group. Tax revenues would then be charged and distributed among the countries where it operated, on the basis of a formula that took into account where the economic activity occurred and the domestic tax rate in each country.
This approach has some merits. A multinational which opted into the scheme would reduce its compliance burden, since it would be following just one set of tax rules. The regime would also allow losses in one part of a group to be offset against gains elsewhere.
More importantly, it could encourage genuine tax competition. If a company relocates its operations to a lower-tax economy, the government which has provided that environment should benefit. This is a different matter from allowing countries to divert tax revenues from profits generated in other countries. By declaring the profits of groups as a whole, the common tax base would prevent companies declaring their profits in low-tax jurisdictions even if they were earned elsewhere.
There are two main problems with the proposals. First, a voluntary scheme is not a very effective weapon to deal with the practice of exporting profits to low-tax jurisdictions. Yet compulsion would prevent countries from being able to compete as they should on the size and shape of the tax base.
Second, reaching agreement on a tax code and the basis of splitting revenues between countries would be very difficult and time-consuming, since the interests of EU countries differ so widely. Efforts to achieve accord might well be at the expense of more realistic fiscal improvements.
The goal for European fiscal policymakers should be a regime that enhances genuine competition among economies. It should allow countries to use tax as a basis for promoting themselves as places to do business. It should also aim to deter distortion of that competition by making it harder for multinational companies to seek their own advantage by breaking the link between where their activities generate profit and where those profits are taxed. Any moves France can make in that direction during its presidency will be welcome.
The Financial Times Limited
segunda-feira, junho 09, 2008
Public comments on draft contents of the 2008 Update to the Model Tax Convention
Public comments on draft contents of the 2008 Update to the Model Tax Convention
09-Jun-2008
On 21 April 2008, the OECD Committee on Fiscal Affairs published the draft contents of the 2008 Update to the Model Tax Convention. The OECD has now published the comments received on that draft.
09-Jun-2008
On 21 April 2008, the OECD Committee on Fiscal Affairs published the draft contents of the 2008 Update to the Model Tax Convention. The OECD has now published the comments received on that draft.
Ética, Imposto e Crime - Germano Marques da Silva
Lembro as recomendações do saudoso Professor António Sousa Franco, então Ministro das Finanças, aquando da elaboração do projecto do Regime Geral das Infracções Tributárias e face ao desenhar de um conflito de competências entre a Administração fiscal e o Ministério Público: não é necessário e é perigosa a atribuição de competências excepcionais à administração tributária, porque nem os meios do processo comum são insuficientes para um combate eficaz, nem a natureza e gravidade das infracções justifica a subversão do sistema de investigação criminal; os meios de excepção embotam a inteligência dos agentes. Sábias palavras que me não canso de repetir.
Em memória do Professor António Luciano de Sousa Franco, a Faculdade de Direito da Universidade Católica acaba de aprovar a criação de uma disciplina curricular (Direito Penal Tributário) em ordem ao desenvolvimento da investigação nesta área, concretizando um antigo projecto daquele que foi seu Director e um dos seus mais distintos professores.(...)
Em memória do Professor António Luciano de Sousa Franco, a Faculdade de Direito da Universidade Católica acaba de aprovar a criação de uma disciplina curricular (Direito Penal Tributário) em ordem ao desenvolvimento da investigação nesta área, concretizando um antigo projecto daquele que foi seu Director e um dos seus mais distintos professores.(...)
Advocate General considers Hungarian company law restricting the transfer of operational headquarter to another Member State incompatible with EC law
Advocate General considers Hungarian company law restricting the transfer of operational headquarter to another Member State incompatible with EC law (Cartesio)
On 22 May 2008, Advocate General Maduro gave his Opinion in the Cartesio case (C-201/06). The Advocate General concluded that Hungarian company law violated the freedom of establishment guaranteed under Article 43 EC as it completely precluded the transfer of the operational headquarter of a Hungarian company to another Member States, without any grounds of justification.
Cartesio is a limited partnership constituted in accordance with Hungarian law and registered in Hungary. In November 2005, Cartesio asked the commercial court to record in the commercial register the transfer of its operational headquarters from Hungary to Italy, but wished to remain subject to Hungarian company law. The commercial court refused to conform to this request on the basis that such transfer was not allowed under Hungarian law. It stated that, in order to change its operational headquarters, Cartesio would first have to be dissolved in Hungary and then reconstituted under Italian law. Cartesio lodged appeal against the decision of the commercial court before the Court of Appeal of Szeged, which in turn, asked the ECJ whether the Hungarian legislation at issue was compatible with the freedom of establishment, in addition to several questions concerning Article 234 EC.(...)
Cartesio is a limited partnership constituted in accordance with Hungarian law and registered in Hungary. In November 2005, Cartesio asked the commercial court to record in the commercial register the transfer of its operational headquarters from Hungary to Italy, but wished to remain subject to Hungarian company law. The commercial court refused to conform to this request on the basis that such transfer was not allowed under Hungarian law. It stated that, in order to change its operational headquarters, Cartesio would first have to be dissolved in Hungary and then reconstituted under Italian law. Cartesio lodged appeal against the decision of the commercial court before the Court of Appeal of Szeged, which in turn, asked the ECJ whether the Hungarian legislation at issue was compatible with the freedom of establishment, in addition to several questions concerning Article 234 EC.(...)
domingo, junho 08, 2008
How to Cut your Tax Bill
There are many ways in which you as an individual could trim your tax bill.
Usually, the steps you need to take are straightforward merely involve claiming what you are entitled to.
Usually, the steps you need to take are straightforward merely involve claiming what you are entitled to.
Income Tax
Everyone is entitled to a personal allowance - the amount you can earn before tax is due - from the day they are born. In the 2007/2008 tax year, this stands at £5,225.
Many people who have a partner, are married, or have children generally fail to optimise their use of personal allowances or lower tax rates.
If you have a partner or are married, it makes sense from a tax point of view to ensure that the individual who pays tax at the lower rate (22%), or does not work at all, holds the savings in their name.(...)
sábado, junho 07, 2008
Norway: Statements from the Norwegian tax authorities regarding foreign investments funds
In March 2008, the Norwegian directorate of taxes issued three interpretative statements regarding the applicability of the Norwegian tax exemption method (TEM) on foreign investments funds. According to the Norwegian directorate of taxes, Danish, Irish and German investment funds are not covered by the TEM due to the funds not being liable to general corporate income tax in their respective countries of residence. Norwegian investment funds are specifically covered by the TEM. Foreign investment funds will in principle be covered by the TEM provided they are comparable to Norwegian entities qualifying for the TEM.(...)
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