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    Recent changes to the Portuguese tax Law with impact on the transfer pricing obligations

    On 24 April, Order 153/2020.XXII was published. This Order postpones the following fiscal obligations:

    • The obligation to submit the Annual Simplified Information Return (IES) can be fulfilled until 7 August, without any penalties;
    • The obligation to submit the transfer pricing documentation can be met (by the entities which are accompanied by the Large Taxpayers Unit) until 31 August without any penalties. For the remaining taxpayers (which have registered a turnover exceeding 3 million euros) in the tax period for 2018, the referred documentation must also be prepared until 31 August.

    It should also be noted that the submission date of Form 54 – Communication of the reporting entity (i.e., the constituent entity of a multinational group that will proceed with the delivery of the Country-by-Country Reporting) has not undergone any adjustments, so this obligation must be fulfilled by the last day of the 5th month following the end of the tax period (meaning that, for taxable persons who adopt a tax period equal to the calendar year, it must be fulfilled by the end of May).

    In line with several measures that have been taken to ease the timely compliance of tax obligations (namely Order No. 104 / 2020.XXII, which granted the extension of the submission deadline of the Income Tax Return Form (Form 22) for fiscal year 2019), the extension of the deadlines related to the tax obligations listed above aims to maintain the sequential order in fulfilling them in this extraordinary period not to compromise the normal functioning, either of the companies or of the Tax Authority.


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