Notice No. 4/2023, of 2 February, has been published, making public that the Agreement between the Portuguese Republic and the Democratic Republic of Timor-Leste for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on Income ("DTA"), entered into force on October 12, 2022.
 
The DTA sets forth rules to mitigate the double taxation of different type of income, including specific rules on income derived from onshore and offshore activities of exploration and exploitation of the seabed and subsoil and its natural resources.
 
The DTA takes effect on income obtained or generated on or after January 1, 2023.

For more information on this Legal Alert please contact:
[email protected]