Samuel Fernandes de Almeida (Partner) writes an opinion article for the newspaper Jornal Económico on the Stamp Duty (IS) tax treatment of so-called centralized cash pooling operations, which has been the subject of extensive doctrinal and jurisprudential debate, especially in cases where non-resident companies are involved.

"The cash pooling system consists of a model for centralized management of surplus cash generated between several bank accounts (of one or several companies), allowing the virtual or real consolidation of the respective balances in a single centralized account. These movements in the centralised management of global surpluses, translates in practice, into the granting or obtaining of credits between the various member companies, with the funds being directed to a single bank account (and the other "zeroed" accounts)".

Read the article here.