Portugal: FATCA reporting deadline extended again, 31 March 2016

The FATCA reporting deadline for financial institutions in Portugal has been extended again, this time to 31 March 2016.

An order of the Portuguese Secretary of State for the Financial Affairs, issued 28 December 2015, extends the deadline for Portuguese financial institutions to report relevant information under the FATCA regime to the Portuguese tax authorities. This is the third time that the FATCA reporting deadline has been extended. The prior reporting deadline was set at 31 December 2015.

The FATCA reporting deadline extension applies even though Portugal and the United States have signed an intergovernmental agreement (IGA). The IGA has not been approved and ratified to allow for its entry into force, and in Portugal, legislation to transpose the FATCA IGA measures into Portuguese law has not been enacted so as to require reporting by Portuguese financial institutions.