UBO Annual Obligation in Portugal

Portuguese VAT-registered taxpayers must submit an annual confirmation of the information in the UBO registry in Portugal, every year after registration. This obligation also impacts to non-established taxpayers who are identified for VAT purposes.

After obtaining the VAT number, VAT-registered taxpayers must always comply with the UBO registration in Portugal (Ultimate Beneficial Owner), a money laundering and anti-tax avoidance initiative.

Who Must Comply with the UBO Annual Confirmation in Portugal?

All VAT-registered companies should file the confirmation of UBO before year-end, in case no changes happened during the year.

As an exception, taxpayers are not subject to this obligation in the following scenarios:

• Taxpayers who filed UBO during the same year.
• Taxpayers that communicated a change in UBO registry during the same year.

When to communicate changes in the UBO registry?

Any changes to the UBO registry information of a business must be communicated within 30 days from the date of the change.

In case you had to communicate any change during the year, you do not need to submit the end of the year UBO confirmation by 31 December.