According to the version, dated 10 October, which Lusa has seen, there would be a new situation in which tax inspectors can access the data of clients of banks and other financial institutions, breaking the usual banking secrecy.

Under a new line in article 63-B of the General Tax Law (sub-clause i), there is “grounds to lift banking secrecy” when the tax authorities receive “notice of suspect operations” from the Central Department of Penal Action and Investigation, the office of Portugal’s Attorney-General, or the Unit of Financial Information of the Polícia Judiciária.

This action may be taken, the draft bill states, “in the ambit of legislation relating to the prevention and countering of money laundering and the financing of terrorism.”

The draft state budget for 2018 must be submitted to parliament by 15 October.