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21 December 2017 Portugal releases official form for compliance with Country-by-Country Reporting notification obligation The Portuguese Government issued Ministerial Order no. 367/2017, of 11 December 2017, containing the official form (and respective filing instructions) for compliance with the Country-by-Country Reporting (CbCR) notification obligation. The CbCR notification pertaining to tax periods beginning on or after 1 January 2016 must be electronically filed with the Portuguese tax authorities by 31 December 2017. An obligation for multinational enterprise (MNE) groups to submit a declaration with financial and tax related information per country – CbCR – was introduced in the Portuguese legal system by article 121-A of the Corporate Income Tax Code, added by the Law n. 7-A/2016, of 30 March 2016.1 According to this article, every Portuguese constituent entity as well as permanent establishments of foreign entities in Portugal forming part of a multinational group subject to the CbCR requirements should electronically notify the Portuguese tax authorities regarding which entity of the group will be responsible for filing the CbCR on behalf of the MNE group (CbCR Notification). The CbCR Notification must be submitted on an annual basis and within five months after the end of the fiscal period concerned. For fiscal year 2016 the submission deadline was postponed until 31 December 2017. 1 See EY Global Tax Alert, Portuguese Parliament approves country- by-country reporting requirements, dated 20 April 2016.
Document ID: 2017-5064 |
