Portugal Announces Tax Reform for 2016 including CbC Reporting and Patent Box Regime Amendments

Portugal has announced several tax reform measures following the recent approval of its Budget for 2016 by the European Commission. The main measures include:

• The introduction of Country-by-Country (CbC) reporting requirements based on the guidelines developed as part of Action 13 of the OECD BEPS Project;
• Amendments to the patent box regime to bring it in line with the modified nexus approach developed as part of Action 5 of the OECD BEPS Project;
• A reduction in the required holding period …