Tax Authority criticized over 500 million euro dam deal taxation

The Movimento Cultural Terra de Miranda (MCTM) has criticized the Director-General of the Tax Authority (AT) for failing to respond to studies and legal opinions regarding the taxation of a major dam transaction. The issue concerns the sale of six dams by EDP to Movhera in a deal valued at 2.2 billion euros.

Approximately 500 million euros in IMT, Stamp Duty, and IRC are at stake. Six municipalities affected by the sale have submitted a qualified legal opinion to the AT to ensure taxes are correctly liquidated and to prevent future annulments. The MCTM expressed concern that the lack of communication could lead to irreversible consequences, noting that only one month remains before the right to settle the due taxes expires.