Flash News NA 2025/11/04
Portugal – Form 62 – Registration Declaration – Global Minimum Tax Regime (GMTR)
The purpose of Form 62 (approved by Order No. 290/2025/1 of September 2nd) is to report the subjection to the Global Minimum Tax Regime (GMTR) of entities belonging to national or multinational groups with annual revenues equal to or greater than 750 million Euros.
The first Model 62 return for the 2024 tax year must be submitted by 31 December 2025, and for the 2025 tax year and subsequent years, it must be submitted by 30 September of the following year. For groups with a tax period other than the calendar year, the Model 62 return must be submitted by the end of the 12th month following (for the 2024 tax year) or by the end of the 9th month following (for the 2025 and subsequent tax years).
The Model 62 declaration submitted will remain valid in subsequent tax years whenever there are no changes. Any changes require the submission of a new declaration in the tax year in which they took effect.
Each constituent entity in Portugal or, alternatively, a designated local entity must submit this declaration, stating the start of the application of the GMTR, the ultimate parent entity of the group or the designated reporting entity, and the jurisdiction to which these entities belong.
Failure to submit or late submission of the Model 62 declaration within the legal deadlines indicated above is punishable by a fine from 5,000 Euros to 100,000 Euros, plus a penalty of 5% for each day of delay. Omissions or inaccuracies are punishable by a fine from 500 Euros to 23,500 Euros. Subject to certain conditions, there is the possibility of exemption from fines in the first financial years in which this new regime applies.
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