PortugalFinance and Banking
The Portuguese Taxation of Documents and Other Acts
Stamp Duties ("RIS/TGIS")
INTRODUCTION
The RIS/TGIS is the one Code in the entire Portuguese Tax System, which manages to obtain the same reaction from every analyst: they all dislike it: it is old, it is outdated, it is complex, it has no clear connecting elements, it is difficult to interpret in many of its provisions, it does not take into account the increasing dematerialization of commercial transactions.
SCOPE OF APPLICATION
Created in 1926, the RIS Code was subject to a great number of changes, none of which was meant to deal with its scope of application. That was left for the TGIS, a chart, which is attached to the RIS Code, and which contains the description of the acts and transactions subject to stamp duties.
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