Friday, April 16, 2021

Government makes “negative” assessment of tax amnesties

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The Secretary of State for Tax Affairs, António Mendonça Mendes

The Secretary of State for Tax Affairs, António Mendonça Mendes, said this Wednesday that the Government makes a “negative assessment” of past tax amnesties – the RERT (Exceptional Tax Regularization Regime) -, which allowed the repatriation of capital with taxation reduced.

According to the ECO, the “negative” assessment of the report that the Tax Authority (AT) related to past tax amnesties was made at the beginning of the hearing, requested by the PCP. Mendonça Mendes pointed out that “Nobody likes these regimes”.

“None of the three Governments that decided to make this instrument did so with pleasure, regardless of whether it is a PS or PSD Government”, he said, stressing that they are introduced “in times of crisis” when there is “greater outflow of capital than in moments of stability ”, requiring“ capital to recapitalize the economy ”.

“Fortunately, I didn’t have to make that decision,” he said, stating that “we must learn from mistakes to avoid them” and that “the context is different now, with an automatic exchange of information worldwide” much higher than the previous decade .

He further underlined that the report will not allow you to recover revenue but it will give “greater knowledge about how this type of taxpayer acts to defraud the law”.

Taísa Pagno Taísa Pagno //

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