Portugal has enacted Law No. 26/2026, introducing new reporting obligations for crypto-asset service providers and establishing procedures for the exchange of global minimum tax information. The legislation implements the EU’s DAC8 and DAC9 directives, aligning Portugal with OECD standards on crypto-asset reporting and international tax transparency.
Portugal has published Law No. 26/2026 of 3 June 2026, implementing Council Directive (EU) 2023/2226 (DAC8) and Council Directive (EU) 2025/872 (DAC9). The legislation establishes a comprehensive framework for administrative cooperation in tax matters, with a particular focus on crypto-assets and the exchange of information relating to the global minimum tax regime.
The law aligns Portuguese legislation with international standards developed by the OECD, including the Crypto-Asset Reporting Framework (CARF) and the Common Reporting Standard (CRS), strengthening the country’s participation in cross-border tax transparency initiatives.
New crypto-asset reporting regime introduced
A central feature of the legislation is the introduction of a legal framework for the automatic and reciprocal exchange of information concerning crypto-assets.
The rules apply to Reporting Crypto-Asset Service Providers (CASPs), including entities authorised under the EU Markets in Crypto-Assets (MiCA) Regulation as well as providers that are resident, incorporated or managed in Portugal.
The reporting obligations cover a broad range of “Reportable Crypto-Assets”, defined as crypto-assets that can be used for payment or investment purposes unless specifically excluded. Excluded assets include central bank digital currencies and certain forms of electronic money.
CASPs will be required to report crypto-to-fiat exchanges, crypto-to-crypto transactions and transfers of reportable crypto-assets. The legislation also identifies transfers used to purchase goods or services exceeding USD 50,000 as “Reportable Retail Payment Transactions”, bringing these transactions within the reporting framework.
Framework established for GloBE information exchange
The law also incorporates rules for the automatic exchange of information relating to the OECD’s Global Anti-Base Erosion (GloBE) framework, which underpins the global minimum tax.
The provisions apply to multinational enterprise (MNE) groups subject to the Pillar Two rules. Information will be exchanged using the standardised GloBE Information Return developed by the OECD/G20 Inclusive Framework.
Under the new system, Portugal’s Tax and Customs Authority (AT) will share the General Section of a GloBE Information Return with all relevant jurisdictions in which an MNE group operates. More detailed Jurisdictional Sections will be exchanged only with jurisdictions where a top-up tax liability may arise.
The measures are intended to facilitate coordinated administration of the global minimum tax and support consistent implementation across participating jurisdictions.
Extensive due diligence requirements for service providers
Reporting entities must undertake detailed due diligence procedures to identify reportable users and ensure the accuracy of information submitted to the tax authorities.
Crypto-asset service providers will be required to obtain self-certifications from users containing key identifying information, including their name, address, tax residence, tax identification number (TIN) and date of birth. Providers must also validate the information collected.
Annual reporting to the Portuguese Tax and Customs Authority must be completed by 31 May each year for information relating to the previous calendar year.
The law includes enforcement measures for situations where users fail to provide required information. If a user does not comply after receiving two notices over a period of 60 days, the service provider must prevent that user from carrying out further reportable transactions.
Significant penalties for non-compliance
To support compliance, Law No. 26/2026 introduces substantial amendments to Portugal’s General Regime for Tax Infractions (RGIT).
Failure to meet registration or reporting deadlines may result in penalties ranging from EUR 2,000 to EUR 22,500. Providing incomplete, omitted or inaccurate information may attract fines of between EUR 500 and EUR 11,250.
In addition, breaches of due diligence requirements or failures to maintain records for the prescribed retention periods can trigger penalties ranging from EUR 1,000 to EUR 22,500. Documentation must generally be retained for periods of between five and ten years, depending on the nature of the reporting entity and the information involved.
Implementation begins in 2026
The legislation generally takes effect from 1 January 2026, although some provisions will be phased in over a longer period.
The first reporting cycle for crypto-asset information will cover the 2026 calendar year, marking the beginning of Portugal’s implementation of the CARF reporting framework.
Certain enhanced reporting requirements, including additional TIN-related obligations for specific categories of taxpayers, will not apply until 1 January 2028 or, in some cases, 1 January 2030.
With the adoption of Law No. 26/2026, Portugal joins a growing number of jurisdictions implementing DAC8 and DAC9 measures, extending tax transparency requirements into the crypto-asset sector while supporting international cooperation on the OECD’s global minimum tax framework.
Earlier, 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.
