Everything you need to know about IES
Posted: Thu Dec 26, 2024 3:15 am
IES (Simplified Business Information) was created in 2007 to simplify the fulfillment of companies' obligations, by unifying several accounting reporting procedures into one.
In order to meet the changing economic situation and the needs of the companies that comprise it, the IES has undergone changes over time, the latest of which has taken a lot of work away from those who deliver it, the Certified Accountants.
What is IES?
IES, or IES/DA, is the acronym used for Simplified Business Information / Annual Declaration of Accounting and Tax Information . This is a mandatory declaration , to be submitted annually electronically, which brings together, in a single document, all the information relating to the annual accounts of companies required for accounting and statistical purposes.
Before the introduction of the IES by Decree-Law No. 8/2007 of 17 January, the entities required to do so had to submit their annual accounts to the respective entities, individually and in the different hong kong whatsapp number database required. In other words, they had to make several separate communications with identical information.
The IES, as the name suggests, was created to simplify these processes, allowing the following legal and reporting obligations to be fulfilled simultaneously , by submitting them to a single entity:
submission of the annual accounting and tax information declaration to the Tax Authority (AT);
the registration of the financial statements at the Commercial Registry Office;
the provision of statistical information to the National Statistics Institute (INE);
the provision of information relating to annual accounting data for statistical purposes to the Bank of Portugal;
the provision of statistical information to the Directorate-General for Economic Activities (DGAE);
confirmation of information about the beneficial owner.
Which entities are required to submit the IES?
Since it is, by definition, an annual financial report for different purposes, the entities required to submit the IES are those required to register annual financial reports, namely:
commercial companies;
civil companies in commercial form;
European public limited companies;
companies with headquarters abroad and permanent representation in Portugal;
public companies;
individual limited liability companies (EIRL).
Which entities are exempt from submitting the IES?
Likewise, as they are not subject to accounting registration, they are exempt from submitting Simplified Business Information:
the associations;
the foundations;
sole traders;
cooperatives;
complementary groups of companies;
European economic interest groups;
civil societies (e.g. law firms or solicitors);
irregular companies (for which the legal requirements of the public deed or the definitive registration of the company contract were not observed at the time of their incorporation).
Although they are not required to register their accounts, these entities must submit the Annual Declaration of Accounting and Tax Information to the Tax Authority, for which they must complete and submit the corresponding annex.
What are the components of the IES?
In general, the IES consists of a cover sheet , to be completed by most companies required to submit it, and several annexes , which must be completed according to the type of accounts and the activity(ies) to which they fall.
The following annexes are an integral part of the IES/DA:
Annexes A to G, for IRC taxpayers, respectively:
residents who carry out, as their main activity, commercial, industrial or agricultural activity and non-residents with a permanent establishment;
of the financial sector;
of the insurance sector;
residents who do not primarily engage in commercial, industrial or agricultural activity;
non-residents without a permanent establishment (accounting and tax elements);
covered by special regimes;
Annexes A1, B1 and C1, for the consolidated accounts of the taxable persons covered by Annexes A, B and C;
Annex H, for IRS and IRC taxpayers with transactions with related entities and income obtained abroad;
Annex I, for IRS taxpayers with organized accounting;
Annexes L to P, relating to VAT, intended, in order, for accounting and tax elements, operations carried out in a space other than the registered office, special regimes, summary tables of customers and suppliers;
Annex Q, relating to Stamp Duty, for accounting and tax elements;
Annexes R to T, for statistical information by resident entities that carry out, as their main activity, commercial, industrial or agricultural activity, non-resident entities with a permanent establishment and EIRL, from the financial and insurance sectors.
The most common annexes for all companies are A, I and R, with the latter (statistical information) being submitted to accompany one or the other, depending on the company's characteristics.
In order to meet the changing economic situation and the needs of the companies that comprise it, the IES has undergone changes over time, the latest of which has taken a lot of work away from those who deliver it, the Certified Accountants.
What is IES?
IES, or IES/DA, is the acronym used for Simplified Business Information / Annual Declaration of Accounting and Tax Information . This is a mandatory declaration , to be submitted annually electronically, which brings together, in a single document, all the information relating to the annual accounts of companies required for accounting and statistical purposes.
Before the introduction of the IES by Decree-Law No. 8/2007 of 17 January, the entities required to do so had to submit their annual accounts to the respective entities, individually and in the different hong kong whatsapp number database required. In other words, they had to make several separate communications with identical information.
The IES, as the name suggests, was created to simplify these processes, allowing the following legal and reporting obligations to be fulfilled simultaneously , by submitting them to a single entity:
submission of the annual accounting and tax information declaration to the Tax Authority (AT);
the registration of the financial statements at the Commercial Registry Office;
the provision of statistical information to the National Statistics Institute (INE);
the provision of information relating to annual accounting data for statistical purposes to the Bank of Portugal;
the provision of statistical information to the Directorate-General for Economic Activities (DGAE);
confirmation of information about the beneficial owner.
Which entities are required to submit the IES?
Since it is, by definition, an annual financial report for different purposes, the entities required to submit the IES are those required to register annual financial reports, namely:
commercial companies;
civil companies in commercial form;
European public limited companies;
companies with headquarters abroad and permanent representation in Portugal;
public companies;
individual limited liability companies (EIRL).
Which entities are exempt from submitting the IES?
Likewise, as they are not subject to accounting registration, they are exempt from submitting Simplified Business Information:
the associations;
the foundations;
sole traders;
cooperatives;
complementary groups of companies;
European economic interest groups;
civil societies (e.g. law firms or solicitors);
irregular companies (for which the legal requirements of the public deed or the definitive registration of the company contract were not observed at the time of their incorporation).
Although they are not required to register their accounts, these entities must submit the Annual Declaration of Accounting and Tax Information to the Tax Authority, for which they must complete and submit the corresponding annex.
What are the components of the IES?
In general, the IES consists of a cover sheet , to be completed by most companies required to submit it, and several annexes , which must be completed according to the type of accounts and the activity(ies) to which they fall.
The following annexes are an integral part of the IES/DA:
Annexes A to G, for IRC taxpayers, respectively:
residents who carry out, as their main activity, commercial, industrial or agricultural activity and non-residents with a permanent establishment;
of the financial sector;
of the insurance sector;
residents who do not primarily engage in commercial, industrial or agricultural activity;
non-residents without a permanent establishment (accounting and tax elements);
covered by special regimes;
Annexes A1, B1 and C1, for the consolidated accounts of the taxable persons covered by Annexes A, B and C;
Annex H, for IRS and IRC taxpayers with transactions with related entities and income obtained abroad;
Annex I, for IRS taxpayers with organized accounting;
Annexes L to P, relating to VAT, intended, in order, for accounting and tax elements, operations carried out in a space other than the registered office, special regimes, summary tables of customers and suppliers;
Annex Q, relating to Stamp Duty, for accounting and tax elements;
Annexes R to T, for statistical information by resident entities that carry out, as their main activity, commercial, industrial or agricultural activity, non-resident entities with a permanent establishment and EIRL, from the financial and insurance sectors.
The most common annexes for all companies are A, I and R, with the latter (statistical information) being submitted to accompany one or the other, depending on the company's characteristics.