Judgement No. 362/2015 - Official Gazette No. 186/2015, Series II of 09/23/2015

The Constitutional Court ruled unconstitutional the provision of Article 100 of the Insolvency and Corporate Recovery Code, approved by Decree-Law No. 53/2004, of March 18, if interpreted as the declaration of insolvency provided therein suspends the limitation deadline of tax debts attributable to the responsible subsidiary responsible person according to the tax procedure.

Judgment of the Supreme Court of 08/10/2015

BARCELONA PROVINCIAL COURT (DIVISION 15) RULING OF JUNE 31. 2015, NO. 170/2015: CHANGE IN THE RULE FOR DETERMINING THE EXISTENCE OF A GROUP UNDER THE INSOLVENCY ACT

In this judgment, the Provincial Court of Barcelona modified its previous position (despite a degree of dissent) on the concept of group for insolvency proceeding purposes.

DECISION OF THE GENERAL DIRECTORATE ON REGISTRIES AND NOTARIAL ACTIVITIES DATED OCTOBER 6, 2015: NO PUBLIC DEED REQUIREMENT FOR REGISTERING PROPERTY JUDICIALLY AWARDED IN AN INSOLVENCY PROCEEDING

ACT 42/2015 AMENDS ARTICLE 1964 OF THE CIVIL CODE (STATUTE OF LIMITATIONS ON ACTIONS)

DOING BUSINESS IN PORTUGAL A legal and tax perspective This guide provides general information to investors intending to operate in Portugal on legal issues on which they may need advice. It is not intended, and cannot be considered, as a comprehensive and detailed analysis of Portuguese law or, under any circumstances, as legal advice from Cuatrecasas, Gonçalves Pereira. This guide was drafted on the basis of information available as of October, 2015. Cuatrecasas, Gonçalves Pereira is under no obligation and assumes no responsibility to update this information. All rights reserved.

Judgment of the Court of Appeal of Lisbon of 02-06-2015

Interpretation of the intentions of a commercial company – Attribution of communications by members of corporate bodies – Signatures

In 2009, to promote corporate restructuring, the MoF and the SAT jointly released Circular Caishui [2009] No. 59 to  grant tax deferral treatment to qualified corporate restructuring transactions (recently modified by Circular 109, mentioned above, which expanded its scope).

In 2010, the SAT released Announcement [2010] No. 4, providing procedural guidelines to benefit from the tax deferral treatment.

NEW REFORM OF THE INSOLVENCY ACT CONTENTS INTRODUCTION 2 AMENDMENTS REGARDING REFINANCING AGREEMENTS 3 - NOTIFICATION OF THE START OF NEGOTIATIONS 3 - REFINANCING AGREEMENTS AND COURT APPROVAL 4 AMENDMENTS REGARDING COMPOSITION AGREEMENTS 4 - CONTENT OF THE COMPOSITION AGREEMENT 4 - QUORUM FOR THE CREATION OF THE CREDITORS’ MEETING AND CALCULATION OF MAJORITIES 5 AMENDMENTS REGARDING LIQUIDATION 5 AMENDMENTS REGARDING THE CLASSIFICATION OF THE INSOLVENCY PROCEEDINGS 6 TELEMATIC COMMUNICATIONS AND PUBLIC INSOLVENCY REGISTRY 7 LEGAL UPDATE I COMMERCIAL AND LITIGATION PRACTICE AREAS June 2015

财政部国家税务总局关于个人非货币性资产投资有关个人所得税政策的通知)

On March 30, 2015, the Ministry of Finance (“MoF”) and the SAT jointly released Caishui [2015] No. 41 (“Circular 41”) to expand nationwide the tax payment installment policy applicable in the Shanghai Free Trade Zone to income derived from non-monetary asset investment made by individuals.

Circular 41 defines non-monetary asset investment and includes the contribution of non-monetary assets to establish a new company, to participate in company capital increase, private placement of stock, stock exchange and corporate restructuring.

(财政部、国家税务总局关于进一步支持企业事业单位改制重组有关契税政策的通知)

Following  the  State  Council’s  call  to  introduce  policies  promoting  corporate restructuring in Guofa [2014] No. 14, MoF and SAT released Caishui [2015] No. 37 (“Circular 37”) to exempt from deed tax the transfer of land use rights and building ownership rights in the following corporate transactions: