GloBE Country Guide: Portugal

Summary

Status	Enacted Law
Law	On November 8, 2024, the law to transpose the EU Minimum Tax Directive was published in the Official Gazette. On October 30, 2024, the Portuguese President promulgated the law enacting the EU Minimum Tax Directive On October 22, 2024, Decree No. 13/XVI of the Portuguese Parliament was issued to approve a law to introduce, an Income Inclusion Rule (IIR) and an Undertaxed Profits Rule (UTPR), as well as a Qualified Domestic Minimum Top-up Tax (QDMTT). Draft Law approved by Parliament on October 18, 2024 Draft Law of July 10, 2024
Effective Date	Fiscal years beginning on or after January 1, 2024
IIR	Yes (2024)
UTPR	Yes (2025)
QDMTT	Yes (2024)
Filing Deadlines	Standard
Safe Harbours	Transitional CbCR Safe Harbour, Transitional UTPR Safe Harbour, the QDMTT Safe Harbour and the NMCE Simplified Calculations Safe Harbour.

Legislation
General
Differences to Model Rules
Qualifying Domestic Minimum Top-Up Tax
Administration and Filing
Penalties

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Lee Hadnum

Lee is a qualified Chartered Accountant and Chartered Tax Adviser. A former Senior Tax Analyst at Bloomberg Tax, Lee began his career in Ernst & Young's Entrepreneurial Services department and has 20 years of international tax planning experience. Lee's books have been recommended by The Times, The Guardian and The Telegraph.

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