On 29 February 2015, Portugal published Law No. 7./XIII/1.a in the Official Gazette, which implements anti-abuse amendments made to the EU Parent-Subsidiary Directive into domestic law. The law introduces the concept of non-genuine arrangements, which include those that are not carried out for valid economic reasons or do not reflect economic reality. If a non-genuine arrangement is put in place with the main purpose, or one of the main purposes, of obtaining a tax advantage, then Portugal's withholding tax exemption for dividends paid or the participation exemption for dividends received will not apply. The anti-abuse rules apply from 1 January...