Accounting services
Is an accountant required?
In Portugal, the obligation to use the services of a certified accountant, registered with the Order of Certified Accountants, depends on the type of entity and the accounting regime adopted.
When is an accountant mandatory?
- Companies: All commercial entities (e.g., LDA, SA, single-member limited companies) must maintain organised accounting and, therefore, appoint a certified accountant to oversee records, sign tax declarations (such as Modelo 22, IES, or withholding taxes) and act as an intermediary with the Tax Authority (AT). Without a certified accountant, tax declarations are invalid and may result in fines or prohibition of activity.
- Sole traders (ENI): Mandatory if they opt for organised accounting or if their annual turnover exceeds €200,000 (the threshold for the simplified regime).
- Other entities: Associations and foundations also require a certified accountant for audits and compliance.
When is an accountant not mandatory?
- Sole traders (ENI) in the simplified regime: If the turnover is below €200,000 and they do not opt for organised accounting, they can manage accounting internally (without a mandatory certified accountant), provided they submit tax declarations directly on the Tax Authority Portal.
- Individuals without business activity: There is no requirement for those without income subject to organised accounting.
Why is this mandatory?
The certified accountant ensures compliance with Accounting and Financial Reporting Standards and is legally responsible for errors. They are essential for the validity of tax obligations.
Is the presence of a certified accountant required at the time of company incorporation?
No. At the time of incorporation, it is only necessary to provide the details of the certified accountant (including their name, registration number with the Order of Certified Accountants, tax identification number, and professional address).
Is it possible to submit the declaration of commencement of activity or amendments electronically for tax purposes?
Yes. These can be submitted by the certified accountant to the services of the Tax and Customs Authority via the Internet.