Government to create one-stop-shop for company recovery agreements

  • Lusa
  • 1 October 2021

According to the minister of justice, the state will create a one-stop-shop allowing the tax and social security departments to agree on company restructuring processes and make agreements viable.

Portugal’s government will create a one-stop-shop allowing the tax and social security departments to agree on company restructuring processes and make agreements viable, the minister of justice said on Thursday.

The announcement was made by the minister of justice, Francisca Van Dunem, at a press conference after the cabinet meeting, where a series of measures were approved to speed up business recovery processes.

According to Van Dunem, the one-stop-shop type structure should allow the tax authority and social security to agree on the state’s position in these company restructuring processes.

The aim is to avoid situations in which social security is willing to relinquish part of its credits, but the tax authority is not, or vice-versa, making the viability of agreements unfeasible, the minister of justice explained.

Asked when this structure would be up and running, she said that it would be as soon as possible, adding that she believed it would happen by the end of the year at the latest.