Angola | 2017.06.22
The Ministry of Industry has just approved, through Executive Decree No. 293/17, of 30 May 2017, the regulations on the issuance, grant and use of industrial permits.
Angola | 2017.06.08
INCREASE IN NATIONAL MINIMUM WAGE AND PENSIONS
Presidential Decree No. 91/17 was enacted, setting the statutory national minimum wage at 16,503.30 Kwanzas (Kz). The same statute also updated the minimum wage to be paid in each of the main economic sectors, as follows:
Timor-Leste | 2017.05.25
NEW COMPANIES’ LAW PUBLISHED
A new Companies’ Law was recently published by means of Law No. 10/2017, of 17 May 2017, which expressly revokes the prior framework approved by Law No. 4/2004, of 21 April 2004. The new Law will become effective 120 days after the date of publication.
Timor-Leste | 2017.05.15
TIMOR-LESTE EXPROPRIATIONS’ LEGAL FRAMEWORK APPROVED
After approximately 8 years’ of discussions, the Timor-Leste Parliament recently approved the Country’s Expropriations’ Law (the “Law”) by means of Law 8/2017, of 26 April 2017.
Angola | 2017.05.15
ELECTRONIC SUBMISSION OF THE CORPORATE INCOME TAX RETURN
Order No. 221/17, of 11 May 2017, was enacted, authorising the electronic submission of the annual corporate income tax return (Modelo 1) in relation to FY 2016 for Group A taxpayers.
Mozambique | 2017.05.15
AMENDMENTS TO VAT REGULATIONS
Amendments to VAT Regulations have recently entered into force, enacted by Decree No. 8/2017, of 30 March 2017. The amendments were approved following changes made to the VAT Code earlier this year by Law No. 13/2016, of 30 December 2016, and are essentially aimed at adapting VAT Regulations to those changes. In addition to said changes, we would like to highlight the following:
Angola | 2017.05.12
NEW MODEL FOR REGISTRATION OF SECURITIES
Executive Decree No. 273/17, of 3 May 2017, enacted new rules on the model for registration of securities with the issuing authority. The securities may now be registered in paper support or electronic format, provided that certain legal requirements are met.
Portugal | 2017.05.11
BANKS REQUIRED TO REGISTER BENEFICIAL QUALIFIED OWNERSHIP
By means of Law No. 16/2017, of 3 May 2017, the obligation to register with Bank of Portugal qualified shareholders of banks was extended to further include the identification of the ultimate beneficial owners.
Angola | 2017.04.27
AMENDMENT TO FOREIGN NON-RESIDENT EMPLOYEES HIRING REGIME
Earlier today, Presidential Decree no. 79/17, of 24 April 2017, was made available to the public. The new Presidential Decree amends Articles 2, 7 and 10 of the general rules on labor local content and the hiring of foreign non-resident employee, which had been recently approved through Presidential Decree No. 43/17, of 6 March 2017.
Timor-Leste | 2017.04.21
NEW CUSTOMS CODE APPROVED
By means of Decree-Law No. 14/2017, of 5 April 2017, the Government of Timor-Leste approved a new Customs Code, which will enter into force on 4 June 2017.