Portugal Clarifies Application of Common Understanding on GloBE Information Return Filing Relief

The Portuguese Tax and Customs Authority has issued a notice to clarify the obligations of resident entities, considering the common understanding to waive penalties and not enforce local GloBE Information Return (GIR) filing obligations in certain circumstances, which was released by the OECD on 18 May 2026. As per the common understanding, the notice explains that jurisdictions implementing the Global Minimum Tax from 2024 (including Portugal) have agreed to waive penalties or suspend enf…