Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
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1 What are the main statutes and regulations relating to employment? The main statutes relating to employment are the Portuguese Employment Code (approved by Law 7/2009 of 12 February 2009) and the Regulation of the Employment Code (Law 35/2004 of 29 July 2004) which is still in force notwithstanding the fact that parts have been revoked with the entry into force of the new Employment Code. Within the Employment Code, the vast majority of the rules are mandatory and, therefore, can only be modified by agreement of the parties and only if such amendment is intended to improve the position or rights of the employees.
- F. Castelo Branco & Associados
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Country Q&A Portugal: Employee Share Plan
- F. Castelo Branco & Associados
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Following the public discussions which took place after the approval of the Decree-Law no. 317/2009 of 30 October (Decree-Law 317/2009)1, the Decree-Law no. 3/2010 of 5 January (Decree-Law 3/2010) was published in the Official Gazette, imposing a prohibition on credit institutions to charge on automated teller machines2 (ATM) transactions, as well as, a prohibition on beneficiaries to charge payment transactions in automatic payment terminals and devices.
- PLMJ - A. M. Pereira, Sáragga Leal, Oliveira Mart
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The EU Eco-Management and Audit Scheme (EMAS) is a voluntary scheme which is designed to recognise and reward proactive companies and organisations that undertake to evaluate, manage and improve their environmental performance. When an organisation proves that its environmental performance has been improved according to previously set objectives, as verified by an independent body, it can begin using the EMAS logo. The logo is not only proof that the organisation has set up a strict programme of environmental performance improvement, but also that it respects existing environmental legislation and that its employees play an important role in the process.
- PLMJ - A. M. Pereira, Sáragga Leal, Oliveira Mart
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Country Q&A Portugal
- F. Castelo Branco & Associados
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The Portuguese Securities Regulator (Comissão do Mercado de Valores Mobiliários, hereinafter “CMVM”) has recently launched a public consultation on a proposal for a new set of corporate governance rules and recommendations applicable to listed companies subject to Portuguese Law. When approved, this new regime will supersede the previous rules and recommendations enacted in 2007, thus introducing more stringent requirements for listed companies in Portugal. Among the proposed changes, remuneration and audit are the main areas of regulatory concern.
- PLMJ - A. M. Pereira, Sáragga Leal, Oliveira Mart
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Portugal is the westernmost country of mainland Europe and is bordered by the Atlantic Ocean to the west and south and by Spain to the north and east and also encompasses two autonomous Atlantic regions, notably the Azores and Madeira archipelagos. Portugal has an area of 92,090 km2 and 10,676,910 inhabitants (2008 estimate). It is a founding member of the OECD and NATO and is member of the European Union since 1986.
- PLMJ - A. M. Pereira, Sáragga Leal, Oliveira Mart
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Several countries have already introduced the concept of “temporary non-residents” into their tax orders, thus enabling them to lay down special rules regarding the taxation of income received by those who are habitually resident in these countries, but take up residence in another country for a certain period – which as a rule does not exceed 5 years and is very often a result of secondment - and subsequently return to their former country of residence.
- PLMJ - A. M. Pereira, Sáragga Leal, Oliveira Mart
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September has brought a novelty concerning the access to the electronic communications infrastructure: the approval by the Ministry of the Environment of Decree-Law 258/2009, of 25th September.
- PLMJ - A. M. Pereira, Sáragga Leal, Oliveira Mart
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On 27 August 2009, the Portuguese Directorate-General of Taxation (DGCI) approved Circular no. 21/2009, revoking the previous administrative instructions concerning VAT as a basis for charging Municipal Property Transfer Tax (IMT), whenever the parties waive that tax in real estate transactions.
- PLMJ - A. M. Pereira, Sáragga Leal, Oliveira Mart