"The Taxation of the Portuguese Venture Capital Industry" - article by Francisco de Sousa da Câmara, Bruno Santiago, Ricardo Andrade Amaro and Pedro Capitão Barbosa

Francisco de Sousa da Câmara, Bruno Santiago, Ricardo Andrade Amaro and Pedro Capitão Barbosa are the authors of the article "The Taxation of the Portuguese Venture Capital Industry", published by the International Bureau of Fiscal Documentation (IBFD).
The article provides an overview of the taxation of the venture capital industry in Portugal. In particular, the authors describe the origins of the industry, enumerate the types of venture capital vehicles, explain the lifecycle of VCFs, highlight limitations on investment by private equity/venture capital funds, discuss fund incorporation formalities and mechanics, as well as fund governance. In the second part of the article, the authors conduct an exhaustive analysis of the tax regime applicable to such funds and their domestic and foreign investors.
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