The Council of Ministers held on July 30^th approved the decree-law that transposes the Council Directive (EU) 2020/876, of June 24, 2020, into the internal legal order, thus formalizing the option of the Portuguese State for deferring the reporting deadlines under the EU Mandatory Disclosure Rules (“DAC6”). 

Although the press release of the Council of Ministers is silent on the extent of the deferral , it is expected that the same will occur for six months, similarly to what has been happening with most other EU Member States.

Thus, the reporting deadline for arrangements that occurred between 25 June 2018 and 30 June 2020 will now be 28 February 2021, while the reportable arrangements that occurred between 1 July 2020 and 31 December 2020 should be reported within 30 days from 1 January 2021.

In addition to the deferral of the reporting deadlines, the same decree-law establishes the set-up of the “DAC6 Forum” which will aim to promote the monitoring of the regime provided for in DAC6 and to provide guidance to address the doubts that have been raised by the economic agents.