Portugal’s Assembly of the Republic has approved a decree transposing EU DAC8 and DAC9 rules, introducing new crypto-asset reporting obligations and establishing procedures for the exchange of Global Anti-Base Erosion (GloBE) information under the Pillar Two framework. The law now awaits signature and publication before entering into force.
Portugal’s Assembly of the Republic has approved Assembly Decree 69/XVII (Draft Law 64/XVII/1), setting out the transposition of two EU tax cooperation directives covering crypto-assets and global minimum tax reporting, according to the parliamentary publication dated 11 May 2026.
The decree implements Council Directive (EU) 2023/2226 (DAC8) and Council Directive (EU) 2025/872 (DAC9). It now requires signature and publication in the Official Gazette before entering into force, which is expected shortly.
DAC8: crypto-asset reporting framework
Under DAC8, new reporting and due diligence obligations are introduced for crypto-asset service providers operating in Portugal. The framework is aligned with the OECD-developed Crypto-Asset Reporting Framework (CARF) and amendments to the Common Reporting Standard (CRS) for automatic exchange of financial account information.
Reporting obligations apply to “Reporting Crypto-Asset Service Providers” (RCASPs), defined as entities authorised to provide crypto-asset services conducting exchange transactions for reportable users. Reportable assets generally exclude central bank digital currencies (CBDCs) and electronic money.
RCASPs will be required to collect and report detailed taxpayer and transaction data, including name, address, tax identification number (NIF), date and place of birth, as well as gross amounts paid or received, fair market value, and transaction volumes for acquisitions and disposals involving fiat or other crypto-assets.
Even where no reportable users exist, providers must still submit a “nil information return” to the Portuguese Tax Authority (AT).
DAC8 provisions are generally applicable from 2026, with the first reporting due in 2027.
DAC9: Pillar tWO global minimum tax reporting
DAC9 introduces rules to support the exchange of information relating to Top-up tax information returns under Directive (EU) 2022/2523 (Pillar tWO Global Minimum Tax Directive).
It establishes a mechanism for central filing of the Global Anti-Base Erosion (GloBE) Information Return (GIR), allowing ultimate parent entities or designated filing entities of multinational enterprise (MNE) groups to submit a single consolidated return. This relieves constituent entities in different EU Member States from duplicate filing obligations.
The Portuguese Tax Authority will automatically exchange relevant parts of the GloBE information return with jurisdictions where group entities are located, in line with OECD/G20 Inclusive Framework standards under the GloBE rules.
Legislative changes and enforcement
To implement the new framework, the decree amends several domestic legal instruments, including the IRS Code (Article 124.º-A), which formalises reporting obligations for crypto-asset providers regarding Portuguese tax residents.
The Tax Infractions Regime (RGIT) is also updated with penalties for non-compliance. Failure to register or report can result in fines ranging from EUR 2,000 to EUR 22,500, while omissions or inaccurate reporting are subject to fines between EUR 500 and EUR 11,250.
The Tax and Customs Authority is granted expanded inspection powers to verify compliance by financial institutions and crypto-asset service providers with due diligence and reporting requirements.
Timeline for implementation
Most provisions are scheduled to take effect from 1 January 2026. Reporting for the 2026 calendar year under the crypto-asset framework must be submitted to the Tax Authority by 31 May 2027.
Additional obligations, including the communication of NIF for certain categories of reportable persons, will be introduced gradually, becoming effective on 1 January 2028 or 2030 depending on classification.
Data protection and international cooperation
The decree also sets conditions for the exchange of information with non-EU jurisdictions, requiring an adequate level of data protection. The Minister of Finance will approve a list of jurisdictions meeting privacy and fundamental rights standards, while the Tax Authority will monitor the effectiveness of cooperation in combating tax evasion and avoidance.
