Portugal's Council of Ministers has approved an amendment to the General Tax Law to replace the current list of countries, territories, and regions with privileged tax regimes with the EU list of non-cooperative jurisdictions. Portugal's current list includes 77 jurisdictions, while the EU list only includes 10. Inclusion in Portugal's list results in certain tax consequences, including an increased withholding tax rate of 35% for dividends, interest, and royalties, and ineligibility for Po…