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Fusão de sociedades : regime jurídico e regime de neutralidade fiscal
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A presente dissertação analisa a fusão no âmbito do Direito Societário e do Direito Fiscal, com especial incidência no regime fiscal na perspetiva do IRC. A fusão é uma operação societária de grande relevância no direito empresarial, tendo várias finalidades estratégicas, como a otimização da gestão e a melhoria da eficácia organizacional. No entanto, do ponto de vista fiscal, a operação de fusão envolve uma série de desafios, especialmente no que respeita à tributação das mais-valias, que, mesmo sem verificação de um ganho efetivo, são suscetíveis de tributação em sede de IRC. Este facto pode dificultar a concretização da operação de fusão, dado que resulta numa tributação imediata, o que a torna onerosa. Com base nesta análise inicial, passámos então a explorar os regimes fiscais aplicáveis à operação de fusão, começando pelo Regime de Neutralidade Fiscal, que visa mitigar os efeitos da tributação imediata. Analisámos ainda os requisitos para a sua aplicação e os efeitos nas sociedades fundidas, na beneficiária e nos sócios. Paralelamente, explorámos a tributação da fusão no âmbito do Regime Geral, analisando os seus efeitos nas sociedades fundidas, na beneficiária e nos sócios. Posteriormente, analisamos temas conexos, como o regime de participation exemption e o regime de transmissibilidade de prejuízos fiscais. Por fim, comparámos os dois regimes de tributação aplicáveis a esta operação de fusão, concluindo que não existe um regime universalmente mais vantajoso, sendo necessária uma análise caso a caso.
This dissertation analyzes mergers from the perspective of Corporate Law and Tax Law, with a particular emphasis on the tax regime applicable under Corporate Income Tax (IRC). Mergers are corporate transactions of significant relevance in business law, serving several strategic purposes, such as management optimization and enhanced organizational effectiveness. However, from a tax standpoint, mergers present a range of challenges, particularly regarding the taxation of capital gains, which may be taxable under Corporate Income Tax even in the absence of an actual economic gain. This situation can complicate the execution of mergers, as it leads to immediate taxation, thereby increasing financial burdens. Based on this initial analysis, we proceeded to examine the tax regimes applicable to mergers, starting with the Tax Neutrality Regime, which seeks to mitigate the immediate tax effects. We also analyzed the requirements for its applicability and its implications for the merged companies, the acquiring entity, and shareholders. Concurrently, we explored the taxation of mergers under the General Regime, evaluating its effects on the merged companies, the acquiring entity, and shareholders. Subsequently, we discussed related issues, such as the participation exemption regime and the regime governing the transferability of tax losses. Finally, we compared the two applicable taxation regimes for mergers, concluding that there is no universally advantageous regime, necessitating a case-by-case analysis.
This dissertation analyzes mergers from the perspective of Corporate Law and Tax Law, with a particular emphasis on the tax regime applicable under Corporate Income Tax (IRC). Mergers are corporate transactions of significant relevance in business law, serving several strategic purposes, such as management optimization and enhanced organizational effectiveness. However, from a tax standpoint, mergers present a range of challenges, particularly regarding the taxation of capital gains, which may be taxable under Corporate Income Tax even in the absence of an actual economic gain. This situation can complicate the execution of mergers, as it leads to immediate taxation, thereby increasing financial burdens. Based on this initial analysis, we proceeded to examine the tax regimes applicable to mergers, starting with the Tax Neutrality Regime, which seeks to mitigate the immediate tax effects. We also analyzed the requirements for its applicability and its implications for the merged companies, the acquiring entity, and shareholders. Concurrently, we explored the taxation of mergers under the General Regime, evaluating its effects on the merged companies, the acquiring entity, and shareholders. Subsequently, we discussed related issues, such as the participation exemption regime and the regime governing the transferability of tax losses. Finally, we compared the two applicable taxation regimes for mergers, concluding that there is no universally advantageous regime, necessitating a case-by-case analysis.
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Keywords
Fusão Neutralidade fiscal Prejuízos fiscais Reorganização empresarial Merger Tax neutrality Tax losses Corporate reorganization
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Without CC licence