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Under Portuguese law, payments made by Madeira companies to entities residing in Tax havens are not deductible for the purpose of calculating taxable profit, but are subject to a specific tax at the rate of 35%, unless the purchaser can prove that said charges correspond to operations effectively implemented in circumstances that are not abnormal and the amount involved was also not excessive.

Similarly, it shall not be deductible amounts paid or due, indirectly, to entities resident in tax havens, where the taxpayer has or should have known of the destination of such amounts, unless it can demonstrate that such costs correspond to operations effectively implemented in circumstances that are not abnormal and the amount involved was not excessive.

It is presumed to exist such knowledge when there are special relations between the taxpayer and the entity resident in the tax haven, or between the taxpayer and an agent, trustee, or intermediary.

How we help our clients

NEWCO is an inward investment services provider specialized in the implementation of foreign investment in Portugal and Malta. With 30 years of experience and know how, we help our clients maximize the opportunities and minimize the risks of operating in a new country, allowing them to stay focused on their business. Contact us to find out how we can help you invest or relocate into Portugal, including Madeira, or Malta.

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