DAC8 Reporting in Portugal: Practical Guide

Portugal has gained attention in the crypto-asset community in recent years due to its evolving tax framework for digital assets. The Portuguese Tax and Customs Authority is expected to implement DAC8 reporting requirements as part of the broader EU harmonisation effort. This guide provides practical information for crypto-asset service providers operating in Portugal.

National Authority

The Autoridade Tributaria e Aduaneira (AT), Portugal's Tax and Customs Authority, is the competent authority responsible for tax administration, including international exchange of information. The AT already manages CRS and FATCA reporting obligations and is expected to oversee DAC8 compliance. The AT operates under the Ministry of Finance (Ministerio das Financas), which is responsible for the legislative transposition of the directive.

Submission Requirements

Portugal has been modernising its tax administration systems, and DAC8 submissions are expected to be handled electronically.

• Format: Reports should follow the OECD CARF XML schema as specified by DAC8. The AT may publish supplementary technical guidance for Portuguese submissions.
• Language: Official tax filings in Portugal are conducted in Portuguese. The standardised XML data fields should follow international formats, but any accompanying communications may need to be in Portuguese.
• Submission channel: The AT's Portal das Financas is the primary electronic platform for tax filings. DAC8 reporting may be integrated into this portal or handled through a specific module. The exact submission method is to be confirmed by the AT.
• NIF requirement: Reporting entities operating in Portugal will need a Numero de Identificacao Fiscal (NIF) and Portal das Financas credentials.

Transposition Status

Portugal must transpose the DAC8 directive into national law by December 31, 2025. The transposition is typically carried out through a legislative decree (decreto-lei) or through provisions in the annual state budget law (Orcamento do Estado). Portugal has had varying experiences with EU transposition timelines, so reporting entities should monitor the Diario da Republica (Official Gazette) for the publication of implementing legislation.

Local Variations

Portugal may introduce specific national elements alongside DAC8:

• Evolving crypto tax framework: Portugal introduced specific crypto-asset tax provisions in its 2023 State Budget, ending the previous favourable treatment of crypto gains for individual investors. DAC8 data may be used to verify compliance with these newer rules.
• IRS reporting: Portuguese tax residents report crypto-asset gains through their annual IRS (Imposto sobre o Rendimento das Pessoas Singulares) declaration. DAC8 information may be cross-referenced with these individual returns.
• Banco de Portugal registration: Crypto-asset service providers operating in Portugal are required to register with the Banco de Portugal. DAC8 obligations may be coordinated with this regulatory framework.
• Non-habitual resident regime: Portugal's NHR regime may have implications for how DAC8 data is used to assess tax obligations of qualifying individuals. Reporting entities should be aware of these nuances.

Key Dates

• Transposition deadline: December 31, 2025 (directive must be incorporated into Portuguese law)
• Data collection begins: January 1, 2026 (reporting entities should start collecting relevant information)
• First reporting period: Calendar year 2026
• First reports due: 2027 (exact date to be confirmed by the AT)

Practical Tips

• Register on Portal das Financas: Ensure your entity has active access to the AT's online platform well ahead of the reporting deadline.
• Monitor the Diario da Republica: All implementing legislation will be published in Portugal's Official Gazette. Check regularly for relevant decrees and ministerial orders.
• Track AT circulars: The AT publishes circulars (circulares) and binding information (informacoes vinculativas) that provide interpretative guidance. Watch for DAC8-specific publications.
• Coordinate with Banco de Portugal requirements: Align your DAC8 reporting preparations with your registration and compliance obligations with the central bank.
• Prepare Portuguese-language capabilities: Ensure your compliance team or local advisors can handle communications in Portuguese.
• Engage local tax advisors: Given the ongoing evolution of Portugal's crypto-asset tax framework, consider engaging Portuguese tax consultants with digital asset expertise.

Important Notice

This guide provides general information about DAC8 reporting in Portugal. Requirements may change as the directive is transposed into national law. The information presented here should not be treated as definitive legal or tax advice. Always consult the Autoridade Tributaria e Aduaneira (AT) and the Ministry of Finance for the latest official requirements. For specific compliance questions, seek advice from qualified Portuguese tax professionals.