Nuno Cunha Barnabé explains Tax Authority’s notifications in the Madeira Free Trade Zone
Nuno Cunha Barnabé, partner and coordinator of Tax Law at Abreu Advogados, clarified in ECO newspaper (Portuguese Digital Economic Journal) the notifications from the Tax Authority to companies in the Madeira Free Trade Zone.
In the article, the tax specialist at Abreu Advogados considers this process “is one of the most complex issues that Portugal has ever had in terms of tax litigation” and contests that “we do not know how the companies were selected because this is not public or transparent . We can’t get to it. We also don’t know how the calculations were made and the calculations are very delicate”.
The lawyer is adamant: “it is more than certain that the State will not be able to recover this amount. Either because judicially it won’t be able to do so, or because in practice there are companies that are no longer there and others that have no assets. Many companies won’t have assets, they won’t have the financial capacity to pay this debt. They’re going to become insolvent”, he points out.
Read the full article [article is written in Portuguese].