Portugal: Public country-by-country reporting legislation approved

The law introduces mandatory public reporting for multinational groups

The law introduces mandatory public reporting for multinational groups

Decree-Law n. 73/2023 transposing EU Directive 2021/201 on public country-by-country (CbC) reporting was approved.

The law introduces mandatory public reporting for multinational groups (or individual companies) with consolidated revenues exceeding €750 million in each of the last two tax periods of information on global transactions, in particular of the profits recorded in the countries where an activity takes place, as well as of the number of employees, the description of activity, turnover and the assessment and payment of the corresponding income taxes and retained earnings.

  • The CbC information must be reported for each EU Member State and for each of the third countries included in the EU list of non-cooperative jurisdictions for tax purposes, and in aggregate for other countries. Disclosure of entities may be appropriate to justify particularities of the activities and taxes incurred and paid.
  • The CbC reporting must be published on the parent’s company website (or of the subsidiary or branch if the parent company is not based in the EU), in an official language, and also in one of the official languages of the EU, and remain accessible for at least five years.
  • Entities that are subject to statutory audit will have to declare whether the company is obliged to publish this report in relation to the previous period and, if so, whether the report was published under the terms of the law.

Read an August 2023 report (Portuguese and English) [PDF 208 KB] prepared by the KPMG member firm in Portugal


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