Running a company in Portugal means navigating complex tax rules and strict reporting obligations. That is why every Business in Portugal Needs a Certified Accountant. Certified accountants, registered with the Ordem dos Contabilistas Certificados (OCC – aka Portuguese Accountants Guild), are not only mandatory by law but also essential partners in financial management. Here are seven key reasons why.
1. Compliance with Legal and Tax Obligations
Portuguese law requires that company accounts are organized and signed by a certified accountant, member of the OCC. For instance, Decree-Law 28/2019 requires businesses to store accounting and tax documents for at least ten years. A certified accountant ensures everything is filed and validated properly, reducing the risk of penalties and sanctions.
2. Official Representation Before the Tax Authority
Only a certified accountant can submit tax declarations such as VAT, Corporate Tax (IRC), or Personal Income Tax (IRS). The Tax Authority requires every company to register its accountant formally. During audits or inspections, the certified accountant represents the company and answers all technical questions.
3. Technical Accuracy and Continuous Updates
Because OCC members undergo mandatory training, they remain fully updated on changing tax laws and accounting standards. This obligation ensures companies benefit from accurate reporting and legal compliance. With professional oversight, businesses avoid errors, omissions, and outdated interpretations that can harm their financial standing.
4. Access to Tax Incentives and Special Regimes
Many incentives in Portugal, such as the the Scientific Research and Innovation Tax Incentive (IFICI) or the Madeira International Business Centre (MIBC), require validation by a certified accountant. The accountant confirms eligibility, files registrations, and ensures that all supporting documentation is archived. Without this expertise, companies may lose access to reduced rates and valuable exemptions.
5. International Tax Planning and Double Taxation Relief
Companies with international operations must apply tax treaties signed by Portugal correctly. A certified accountant ensures profits, employment income, and capital gains are taxed according to these agreements. This prevents double taxation and secures the deductions and exemptions provided under international law.
6. Professional Responsibility and Legal Protection
A certified accountant is personally liable for their professional activity, whether civil, disciplinary, or even criminal. This accountability adds a layer of protection for the company. The OCC supervises the profession, ensuring only trustworthy, highly qualified accountants are authorized to practice.
7. Strategic Advice and Personalized Support
Beyond compliance, a certified accountant is a strategic partner in financial management. From profitability analysis to investment planning, they help guide important business decisions. Their tailored advice allows companies to anticipate risks, identify opportunities, and grow sustainably in a competitive market.
Conclusion
Ultimately, every Business in Portugal Needs a Certified Accountant to ensure compliance, secure benefits, and achieve sustainable growth. Certified accountants are not just a legal requirement; they are essential allies in building financial stability and long-term success in Portugal.Legal
This article is intended for informational purposes only and does not constitute legal or tax advice. Laws and regulations in Portugal may change, and professional guidance should always be obtained before making business or tax decisions.
For investors and entrepreneurs, MCS – Madeira Corporate Services provides trusted expertise in accounting, company incorporation, and compliance across Portugal and Madeira. Their team of certified professionals ensures your business not only meets all legal requirements but also benefits from tailored strategic advice for sustainable growth.
The founding of Madeira Corporate Services dates back to 1996. MCS started as a corporate service provider in the Madeira International Business Center and rapidly became a leading management company… Read more
