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01247/15.0BELRS AI generated

Accounting losses from fair value instruments under CIRC Art. 18(9)(a) fully offset taxable profit, not just 50%.

Case Number 01247/15.0BELRS
Court / Authority
Jurisdiction Portugal (PT)
Decision Date
Outcome Dismissed
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Legislator summary

AI generated

The court denied the taxpayer's appeal, ruling that accounting losses from fair value instruments must fully offset taxable profit under Article 18(9)(a) of the Corporate Income Tax Code. The taxpayer argued for a 50% offset limit, but the tribunal confirmed the lower court's decision requiring total concurrence. Consequently, the appeal was rejected unanimously, upholding the strict application of the statutory provision.

Legislator headnote

Official

JUSTO VALOR INSTRUMENTOS FINANCEIROS CAPITAL LUCRO TRIBUTÁVEL

Keywords

AI generated
fair value instruments accounting losses taxable profit offset corporate income tax justo valor CIRC Article 18 tax appeal dismissal

Cited Legislation

AI generated
Art. 18.º, n.º 9, alínea a), do CIRC

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Full text

[Nº CONVENCIONAL] JSTA000P32231

[Nº DO DOCUMENTO] SA22024050801247/15

[RECORRENTE] AT - AUTORIDADE TRIBUTÁRIA E ADUANEIRA

[RECORRIDO 1] A..., SA

[URL] https://www.dgsi.pt/jsta.nsf/35fbbbf22e1bb1e680256f8e003ea931/8E51CF446F52427680258B1C00303ABD?OpenDocument

SUMÁRIO

I - As perdas contabilísticas decorrentes da aplicação do critério do justo valor aos instrumentos de capital previstos no artigo 18.º, n.º 9 alínea a), do CIRC, devem concorrer na totalidade para o apuramento do lucro tributável, tal como decidiu a sentença recorrida, e não apenas em 50%.

II - Negar provimento ao recurso.