Energy
2005-09-30
The Minister of Economy and Innovation announced the new strategy for the Portuguese Energy Sector

Banking and Capital Markets
2005-07-27
The Portuguese Government amended the legal framework of transparency on the financial relations between the State and public undertakings.

Taxation
2005-06-24
On 1 July 2005 the VAT standard rate shall be increased from 19% to 21% in the Mainland and from 13% to 15% in the Islands of Madeira and Azores in accordance with Law 39/2005 published on 24 June 2005.

Taxation
2005-05-13
The Portuguese Council of Ministers approved, on the 12th May 2005, a bill which eliminates the possibility of tacit granting of requests concerning the transmission of tax losses within enterprise restructuring.

Banking and Capital Markets
2005-05-11
The Rules of Market PEX have been modified. The main change is the elimination of restriction on the execution of orders on securities previously admitted in regulated market.

Telecommunications
2005-05-09
The Portuguese NRA, ANACOM, cleared WiMAX testing by the incumbent operator PT Comunicações (PTC) using frequencies allocated to fixed wireless access (FWA) to provide wideband access services.

Taxation
2005-04-26
The Portuguese Secretary of State for Tax Affairs issued an Order which limits the deduction of tax losses to the weight of the merged company’s assets in the global assets resulting from the merger.

Project Finance
2005-04-15
The Portuguese Government Programme (Programme), presented in March 2005, maintains the expectations on the development of infrastructure projects through public-private partnerships schemes.

Telecommunications
2005-04-08
The Commission approved a Recommendation on broadband electronic communications through powerlines.

Corporate and Commercial
2005-03-16
Decree-law 66/2005, 15 March approved new rules on transmission and reception of documents with value of certificate by public registries and public notaries.

Taxation
2005-03-14
Portuguese Parliament Resolution 10/2005 approves, for accession, the Protocol of Amendment to the International Convention on the Simplification and Harmonization of Customs Procedures done at Brussels on 26th June 1999.

Taxation
2005-03-11
The Government implemented Council Directive 2003/48/EC of 3rd June on taxation of savings income in the form of interest payments.

Taxation
2005-02-17
Under the implementation of Directive 2003/49/EC of 3 June 2003 the Portuguese Government has reduced the tax rates applicable to interest and royalty payments made by Portuguese companies to associated companies of another Member States.

Corporate and Commercial
2005-02-17
Portugal implemented Directive 2003/51/EC of 18 June 2003, which amended Directives on the annual accounts and consolidated accounts of certain types of companies, banks, other financial institutions and insurance undertakings.

Energy
2005-02-16
The Portuguese Government announced on 17 February 2005 the launch of a tendering procedure for the awarding of 1.100 MW of new capacity to be generated by wind farms and delivered to the national grid.

Corporate and Commercial
2005-01-18
Decree-Law 19/2005 of 18 January 2005 approved amendments to articles 35, 141 and 171 of the Portuguese Companies Code.

Real Estate and Planning
2005-01-10
Decree-Law n. 13/2005 of 7th of January approved amendments to the Portuguese Real Property Investment Fund Framework approved by Decree-Law n. 60/2002 of 20th March.

Privatisations
2005-01-07
The Decree-Law 9/2005 approves the re-privatization procedure, and tender program, of Portucel Tejo – Empresa de Celulose do Tejo, S.A..

Corporate and Commercial
2005-01-04
Decree-Law 2/2005, of 4 January 2005, approves the Portuguese Legal Framework for the European Company.

Energy
2005-01-03
The Portuguese Government approved the first and second phases of the re-privatisation of Electricidade dos Açores, S.A. (EDA). Council of Ministers’ Resolution 1/2005 sets the conditions for this privatisation.

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