COPE: Is your company complying with this declarative obligation?

This information is aplicable at Portugal.  COPE - Communication of operations and positions with the outside world. WHO SHOULD REPORT? All legal persons resident in Portugal or who could carry out their activity were included, which. Perform the execution of an economy with foreign exchange or foreign exchange operations in an annual total of 100,000 euros or more. Special case that is also covered: When a legal person completed the total of 100,000 euros in economic and operational operation or foreign exchange. Information must be published and disclosed monthly by the 15th business day. If you reach the annual limit, you have to start the report with the information of the beginning of the year until 4th month / April of the year.. WHAT INFORMATION SHOULD BE REPORTED? Economic and international operations with the exterior intermediated by the resident banking system; Foreign economic and financial transactions carried out directly with non-resident entities through external accounts, clearing accounts or under current accounts; Year-end positions for loans, loans or off-line credits of external entities FOR WHAT? To able Banco de Portugal to obtain statistical reporting responsibilities, including the European Central Bank (ECB), Eurostat and the IMF. This will allow them to compile balance of payments, international investment position and external debt statistics. These statistics are fundamental for an analysis of the Portuguese economic situation. At the corporate level, these statistics are important for investment decisions because they enable them to: assess their external competitiveness and frame their activity internationally. This publication is for information only, and is not a consultation of the official documentation. Domingos Salvador Accounting Office is available to assist with the security declaration. Do not hesitate to contact us to schedule a meeting: +351 227537270 or accounting@domingossalvador.pt.