Portugal Begins New DTA Negotiations

by Ulrika Lomas, Tax-News.com, Brussels

21 June 2011

The Portuguese government is seeking to expand its tax treaty network, beginning negotiations with three new countries over the last month: Peru, Gabon and Senegal.

The Peruvian negotiations were announced by the Portuguese government on June 17. According to the Finance Ministry, it is hoped that the two countries will be able to conclude the double tax agreement (DTA) talks by the end of the year.

Portugal already has DTAs with other regional governments, namely Brazil, Chile, Colombia, Cuba, Mexico, Panama, Uruguay and Venezuela.

The Finance Ministry also hopes to wrap up talks with Gabon by the end of 2011. The commencement of negotiations was announced on June 14.

In addition, the government is aiming at a deal with Senegal, as it stated on June 7.

In Africa, Portugal currently has DTAs with Cape Verde, Guinea-Bissau, Mozambique and South Africa.

The Finance Ministry has stressed that each of these sets of talks are a fundamental part of the government's effort to expand Portugal's DTA network, thus helping the country's businesses in the international market.

Both Latin America and Africa are seen as being of particular importance, due to the increasing presence of Portuguese business in each region.

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