Fiscal paradises
Countries,
territories and regions with privileged taxation systems
Fighting
against international evasion and fraud also implies the use of
defensive measures, commonly known as anti-abuses measures,
being restrictive practices within the scope of taxes on income
and on estate/assets, fiscal benefits and duty stamp, having as
a target the operations undertaken with bodies located in
countries, territories and regions classified as “fiscal
paradises” or subject to privileged taxation systems.
Taking
into account the difficulty in defining “fiscal paradise” or
“tax system clearly more favourable”, the national
legislator, in the wake of the orientations followed by other
legal and fiscal management, has chosen in some cases - for
legal security reasons – the casuistic enumeration system and,
in others, a mixed system, however being aware that such
solutions imply the periodical reappraisal of the countries,
territories or regions appearing in the list.
Thus:
The
government orders, for the Under-Secretary of State for Tax
Affairs, pursuant to nr. 2 of article 3rd of the
Executive Law nr. 88/94, of 2nd April, the following:
As
to comply fully with the law, namely nr. 3 of article 16th of
the
IRS Code, nr. 2 of article 59th and nr. 3 and paragraph c)
of nr. 7 of article 60th of
IRC Code, paragraph b) of article
26th, nr 7 of article 41st and nr. 8 of article 42nd of the
Fiscal Benefits Statute (EBF-“Estatutos dos
Benefícios
Fiscais
”), nr. 3
of article 7th of the
Stamp Duty Code, article 3rd of the
Executive Law nr. 88/94, of 2nd April, nr. 4 of article 2nd
and nr. 3 of article 4th of the Executive Law nr. 219/2001, of
4th August, nr. 7 of article 9th and nr. 3 of article
112th of the
Code of Municipal Property Tax (CIMI-“Código do
Imposto Municipal sobre Imóveis”) and nr. 4 of article 17th
of the
Code of Municipal Tax regarding Onerous Transmissions on
Property (CIMT-“Código do Imposto Municipal sobre as
Transmissões Onerosas de Imóveis”), the list of countries,
territories and regions with privileged taxation systems,
clearly more favourable, is as follows:
|
1) Andorra;
2) Anguilla;
3) Antigua and Barbuda;
4) Netherlands Antilles;
5) Aruba;
6) Ascension;
7) The Bahamas;
8) Bahrain;
9) Barbados;
10) Belize;
11) Bermuda Islands;
12) Bolivia;
13) Brunei;
14) Channel Islands (Alderney, Guernesey, Jersey, Great Stark,
Herm, Little Sark, Brechou, Jethou e Lihou);
15) Cayman Islands;
16) Cocos (Keeling) Islands;
17) Cyprus;
18) Cook Islands;
19) Costa Rica;
20) Djibouti;
21) Dominica;
22) United Arab Emirates;
23) Falkland Islands (Malvines);
24) Fiji Islands;
25) The Gambia;
26) Grenada;
27) Gibraltar;
28) Guam Island;
29) Guiana;
30) Honduras;
31) Hong Kong;
32) Jamaica;
33) Jordan;
34) Queshm Island;
35) Kiribati Island;
36) Kuwait;
37) Labuan;
38) Lebanon;
39) Liberia;
40) Liechtenstein;
41) Luxembourg, only related to the holding companies regarding the Luxemburg
legislation which obeys the Law of 31st July
1929 and the Grand-Ducal Decree of 17th
December 1938; |
42) Maldives Islands;
43) Man Island;
44) Northern Mariana Islands;
45) Marshall Islands;
46) Mauritius;
47) Monaco;
48) Monserrat;
49) Nauru;
50) Christmas Islands;
51) Niue Island;
52) Norfolk Island;
53) Sultanate of Oman;
54) Pacific Islands not appearing in the remaining numbers;
55) Palau Islands;
56) Panama;
57) Pitcairn Island;
58) French Polynesia;
59) Puerto Rico;
60) Qatar;
61) Solomon Islands;
62) American Samoa;
63) Western Samoa;
64) Saint Helena Island;
65) Saint Lucia;
66) Saint Christopher and Nevis;
67) San Marino;
68) Saint-Pierre and Miquelon Island;
69) Saint Vincent and the Grenadines;
70) Seychelles;
71) Swaziland;
72) Svalbard Islands (Spitsbergen and Bjornoya – Bear Island);
73) Tokelau Island;
74) Tonga;
75) Trinidad and Tobago;
76) Tristan da Cunha Island;
77) Turks and Caicos Islands;
78) Tuvalu Island;
79) Uruguay;
80) Republic of Vanuatu;
81) British Virgin Islands;
82) US Virgin Islands;
83) Republic of Yemen. |
The Under-Secretary of State for Tax Affairs,
Vasco
Jorge
Valdez
Ferreira
Matias
,
on
21st
January 2004
.
Order nr. 150/2004, of 13th February
Updated by the Declaration of Rectification nr.
31/2004, of
23/03/2004
This note is
only for information and does not hold its divulgers
responsible. For thorough information you must consult
the Law.
