What is the IES?
The Simplified Corporate Information (IES) was introduced to simplify companies’ reporting obligations by consolidating information that previously had to be submitted separately to various public authorities.
By submitting the IES, companies fulfil several legal obligations, including:
- Submission of annual accounting and tax information;
- Registration of annual accounts filing;
- Provision of statistical information to the National Statistics Institute (INE);
- Submission of economic and financial information to the Bank of Portugal;
- Reporting information to other public authorities whenever legally required;
- Confirmation of information relating to the beneficial owner, where applicable.
The IES is therefore an essential tool for ensuring transparency and compliance with corporate legal obligations.
Who is Required to Submit the IES?
The obligation to submit the IES applies, among others, to:
- Commercial companies;
- Civil companies incorporated in a commercial form;
- Public enterprises;
- Sole limited liability establishments;
- Non-resident entities with a permanent establishment in Portugal;
- Sole traders maintaining organised accounting records, where legally applicable.
The specific obligations applicable to each entity should be assessed on a case-by-case basis, taking into account its legal and tax framework.
What is the Deadline for Submitting the IES?
As a general rule, the IES must be submitted by the 15th day of the seventh month following the end of the financial year.
For companies whose financial year coincides with the calendar year and ends on 31 December, the filing deadline is normally 15 July of the following year. However, in certain years, exceptional deadline extensions may be granted through government orders.
For this reason, companies should monitor any annual guidance and updates issued by the relevant authorities.
How is the IES Completed?
Preparing the IES requires several accounting and tax documents, including:
- Annual financial statements;
- Balance Sheet;
- Profit and Loss Account;
- Tax information required for Corporate Income Tax (IRC) purposes;
- Statistical and accounting data required by the applicable schedules.
The submission is completed electronically through the Portuguese Tax Authority’s online portal and is typically carried out by the Certified Accountant responsible for the company’s accounting records.
The correct selection of schedules and the accuracy of the information provided are particularly important, as errors or omissions may result in requests for clarification, subsequent corrections or administrative proceedings.
Consequences of Non-Compliance
Failure to submit the IES may have significant consequences for businesses.
The main consequences include:
Financial Penalties
Failure to submit the declaration within the legal deadline may result in fines imposed under Portuguese tax legislation.
The amount of the penalty will depend on several factors, including the seriousness of the infringement, any previous offences and whether the situation is voluntarily regularised.
Failure to Register Annual Accounts
Failure to submit the IES also prevents the formal registration of annual accounts, which may create difficulties in several business activities, including:
- Participation in public procurement procedures;
- Obtaining bank financing;
- Certification and audit processes;
- Commercial relationships with customers and suppliers.
Non-Compliance with Statistical and Legal Obligations
The IES includes information intended for several public authorities. Failure to submit it also constitutes non-compliance with these legal and statistical obligations and may lead to additional consequences under applicable legislation.
Impact on the Company’s Reputation and Credibility
Transparency and compliance with legal obligations are increasingly valued by investors, financial institutions, business partners and public bodies.
Non-compliance may negatively affect a company’s reputation and potentially limit future business opportunities.
Best Practices to Avoid Problems
To ensure an accurate and timely IES submission, companies should:
- Finalise accounting records in advance;
- Validate all financial statements before submission;
- Confirm the correct identification of mandatory schedules;
- Verify the consistency of accounting and tax information;
- Monitor legislative changes and possible deadline extensions;
- Work closely with their Certified Accountant.
Proper preparation significantly reduces the risk of corrections, notifications and penalties.
Conclusion
The Simplified Corporate Information (IES) remains one of the most important annual reporting obligations for companies in Portugal. In addition to ensuring compliance with several legal, tax and statistical requirements through a single filing, timely submission helps avoid fines, administrative difficulties and negative impacts on corporate credibility.
Sound accounting management and proper planning are essential to ensure compliance with this obligation and maintain the company’s regular standing before the relevant public authorities.
How Can Nominaurea Help?
At Nominaurea, we support companies throughout the entire IES preparation and submission process, ensuring full compliance with all legal and tax requirements.
Our services include:
- Preparation and validation of financial statements;
- Review of mandatory schedules;
- Verification of accounting and tax information;
- Assistance with year-end closing procedures;
- Submission of the IES within the legal deadlines;
- Support with notifications and compliance procedures before the relevant authorities.
If you wish to ensure a risk-free IES submission and full legal compliance, the Nominaurea team is available to support your company at every stage of the process.
