On 23 August 2023, the Portuguese government published Decree-Law No. 73/2023 in the Official Gazette, which establishes the requirements for public country-by-country (CbC) reporting by multinational enterprises (MNEs). The new rules on public country-by-country reporting will apply to multinational groups with consolidated revenue of more than €750 million in each of the last two financial years. The first year for which these groups will be required to publish a public CbC report is the year that starts on or after 22 June 2024.
The CbC report must be published on the website of the parent company (or the subsidiary or branch if the parent company is not based in the EU), in an official language of the country where the company is incorporated or where it has its main place of business, and also in one of the official languages of the European Union. The report must remain accessible for at least five years. The CbC information must be reported for each country where the multinational group operates, but individual entities may be disclosed if necessary to explain why the group is reporting different amounts of profit or taxes in different countries.
Decree-Law No. 73/2023 took effect on 24 August 2023, and is applicable to fiscal periods commencing on or after 22 June 2024.
