Tag: Portugal
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Ordinance No. 51/2019 in Portugal
Ordinance No. 51/2019 in Portugal refers to a modification of the local finance law, enacted on August 16, 2019, as part of the country’s broader administrative decentralization process. This ordinance specifically created a decentralization financing fund and redefined how municipalities participate in VAT revenues. It was implemented alongside Law No. 50/2018, which transferred various powers…
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Ministerial Order No. 367/2017 of Portugal
Ministerial Order No. 367/2017 of Portugal, published on December 11, 2017, approves the official form and filing instructions for the Country-by-Country Reporting (CbCR) notification obligation, known as “Modelo 54” (Model 54). This form is used by multinational enterprise (MNE) groups to notify the Portuguese tax authorities about the entity responsible for submitting the CbCR, as…
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Article 121-A of the Corporate Income Tax Code in Portugal
Article 121-A of Portugal’s Corporate Income Tax Code establishes the requirements for Country-by-Country Reporting (CbCR) for multinational groups operating in Portugal. This provision aligns with international standards, particularly the OECD’s BEPS Action 13 and relevant EU directives. Who Must File The obligation to submit a CbCR applies to: Content of the CbCR The report must…
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Country-by-Country Reporting (CbCR) in Portugal
Portugal has adopted the OECD’s BEPS Action 13 framework, including Country-by-Country Reporting (CbCR) requirements. These obligations aim to improve tax transparency by requiring multinational enterprise (MNE) groups to disclose detailed information about their global allocation of income, taxes, and economic activity. This guide outlines Portugal’s CbCR requirements, including compliance thresholds, filing procedures, deadlines, and applicable…
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Country-by-Country Reporting (CbCR) Implementation in Portugal
In an era marked by global economic interdependence and increased scrutiny on multinational corporations, the implementation of Country-by-Country Reporting (CbCR) has emerged as a crucial tool for fostering transparency and accountability. Portugal, like many other nations, has recognized the importance of CbCR in addressing tax base erosion and profit shifting. This article delves into the…
CbC Reporting 