A shadowy negotiation involving dams and its fiscal and legal implications: A Portuguese case study

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dc.contributor.authorPreto, Diana
dc.contributor.authorCosta, Eva Dias
dc.contributor.authorPinho, Micaela
dc.date.accessioned2024-08-07T16:37:33Z
dc.date.available2024-08-07T16:37:33Z
dc.date.issued2024-08-06
dc.description.abstractThis paper aims to explore the intricate and controversial sale of six hydroelectric dams in the Douro hydrographic basin by Energias de Portugal (EDP), a prominent Portuguese energy company, to a French Consortium – ENGIE. The transaction, completed at the end of 2020, has sparked significant debate and scrutiny within the Portuguese legal and fiscal spheres due to its corporate and budgetary manoeuvres. The crux of the controversy lies in the complex corporate restructuring strategies used by EDP and the acquiring consortium to execute this transaction. These strategies, aimed at achieving tax neutrality, effectively circumvented the traditional tax liabilities typically associated with large-scale asset transfers. The paper delves into the legal intricacies of this operation, scrutinising the application of taxes such as stamp duty, corporate income tax, value added tax and property transfer tax, which were, in theory, applicable to the transaction. Furthermore, this study examines the broader implications of the deal, particularly concerning the principle of tax neutrality in corporate restructurings, the enforcement of anti-abuse clauses and the economic substance over legal formdoctrine. Design/methodology/approach – This study is based on secondary data supported by publicly reported evidence. Findings – This case study highlights the challenges in taxing corporate transactions in the modern financial landscape and reflects these corporate manoeuvres’ societal and ethical considerations. Originality/value – Through an analysis of legal frameworks, corporate strategies and tax policies, this paper provides a comprehensive understanding of the transaction and its implications, offering insights valuable to legal professionals, policymakers and scholars in corporate law, taxation and business ethics. Paper type Case study
dc.identifier.citationCosta, E. D., Pinho, M., & Preto, D. (2024). A shadowy negotiation involving dams and its fiscal and legal implications: A Portuguese case study. Journal of International Trade Law and Policy, (published online: 6 august 2024), 1-12. https://doi.org/10.1108/JITLP-02-2024-0013. Repositório Institucional UPT. https://hdl.handle.net/11328/5888
dc.identifier.issn1477-0024
dc.identifier.urihttps://hdl.handle.net/11328/5888
dc.language.isoeng
dc.publisherEmerald
dc.relation.hasversionhttps://doi.org/10.1108/JITLP-02-2024-0013
dc.rightsrestricted access
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/
dc.subjectCorporate restructuring
dc.subjectHydroelectric dams
dc.subjectTax evasion strategies
dc.subjectBusiness ethics
dc.subjectFiscal neutrality
dc.subject.fosCiências Sociais - Economia e Gestão
dc.subject.fosCiências Sociais - Direito
dc.subject.ods16 - peace, justice and strong institutions
dc.titleA shadowy negotiation involving dams and its fiscal and legal implications: A Portuguese case study
dc.typejournal article
dcterms.referenceshttps://www.emerald.com/insight/content/doi/10.1108/JITLP-02-2024-0013/full/html
dspace.entity.typePublication
oaire.citation.endPage12
oaire.citation.issuePublished online: 06 august 2024
oaire.citation.startPage1
oaire.citation.titleJournal of International Trade Law and Policy
oaire.versionhttp://purl.org/coar/version/c_970fb48d4fbd8a85
person.affiliation.nameIJP - Instituto Jurídico Portucalense
person.affiliation.nameREMIT – Research on Economics, Management and Information Technologies
person.familyNameCosta
person.familyNamePinho
person.givenNameEva Dias
person.givenNameMicaela
person.identifier.ciencia-id8417-D31E-2376
person.identifier.ciencia-idAF14-3E2F-3400
person.identifier.orcid0000-0003-0262-977X
person.identifier.orcid0000-0003-2021-9141
person.identifier.ridF-5478-2013
person.identifier.ridL-1789-2018
person.identifier.scopus-author-id57214897944
person.identifier.scopus-author-id23990998900
relation.isAuthorOfPublicationa088c8c2-0150-4d04-806d-a3f5796121ed
relation.isAuthorOfPublicationb73425ae-9c53-43ec-9bef-8d0ebebecc6b
relation.isAuthorOfPublication.latestForDiscoverya088c8c2-0150-4d04-806d-a3f5796121ed

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