⚠ Update (June 2026): the deadline to file the 2026 Modelo 22 corporate income tax return (for FY2025) has been extended from 31 May to 19 June 2026 — Order no. 68/2026-XXV-SEAF of 12 May — for all entities whose tax period matches the calendar year. Any corporate tax due may also be paid by 19 June, with no surcharges or penalties.
The deadline for the 2026 Modelo 22 corporate income tax return (for the 2025 financial year) is 19 June 2026. The tax assessed must be paid by 31 August 2026. The return is required even where the company made a loss. SME rate: 15% up to EUR 50,000, 19% above.
The full corporate tax calendar for 2026
| Obligation | 2026 deadline | Notes |
|---|---|---|
| Payments on account — 1st instalment | 31 July 2026 | Companies turning over more than EUR 500,000 in the previous year |
| Filing the Modelo 22 return (2025 financial year) | 19 June 2026 ⚠ | The nearest deadline — do not miss it |
| Payment of the corporate tax assessed | 31 August 2026 | Where tax is payable after deductions |
| Payments on account — 2nd instalment | 30 September 2026 | — |
| Payments on account — 3rd instalment | 15 December 2026 | — |
For most companies the most pressing deadline is 19 June 2026, the Modelo 22 filing. Missing it brings an immediate fine.
Corporate tax rates 2026
The rates applying to the 2025 financial year, declared in 2026, are:
| Type of entity | Taxable income | Rate |
|---|---|---|
| SME (turnover up to EUR 50m, fewer than 250 employees) | First EUR 50,000 | 15% |
| General regime (all companies) | Above EUR 50,000 | 19% |
| Start-up — 1st year of activity | All taxable income | 12.5% |
| Start-up — 2nd year of activity | All taxable income | 12.5% |
| Non-resident entities without a permanent establishment | Portuguese-source income | 25% |
The 15% SME rate operates alongside the general rate: the first EUR 50,000 of taxable profit is taxed at 15%, the excess at 19%.
For more on the rates and corporate tax incentives: Corporate tax for SMEs: rate, incentives and how to optimise →
The PEC (special payment on account) no longer exists
The special payment on account ran from 1998 to 2021. Article 326 of Law 12/2022 of 27 June (the 2022 State Budget) repealed article 106 of the Corporate Income Tax Code in full, which was the provision creating it. There is no PEC to pay in 2026, and there has been none in any financial year since 2022.
It is still possible to claim a refund of PEC paid in earlier years and not yet deducted, under the rules in force at the time. Beyond that, the only advance payments of corporate tax in 2026 are payments on account (article 105 of the Code) and, for companies within the state surcharge, the additional payment on account (article 105-A).
Payments on account
Payments on account are mandatory advance instalments of corporate tax for companies whose turnover in the previous financial year exceeded EUR 500,000.
They are made in 3 instalments: July, September and December (in 2026: 31 July, 30 September and 15 December).
Each instalment is roughly 1/3 of the corporate tax assessed for the previous year, with adjustments. Payments on account are deducted from the final corporate tax on the Modelo 22 return.
SMEs with turnover below EUR 500,000 in the previous financial year are not subject to payments on account. Nothing replaces them, since the PEC was repealed.
Filing the Modelo 22 step by step
- Log in to the tax authority portal with the company’s credentials (tax number and password, or the Digital Mobile Key). Go to Empresas → Declarações → IRC → Modelo 22.
- Select the 2025 financial year.
- Box 07 — taxable profit: the starting point is the accounting result (profit or loss before tax). The adjustments required by the Corporate Income Tax Code are then made: add-backs (costs not deductible for tax, such as certain fines and non-deductible provisions) and deductions (income already taxed, tax incentives such as RFAI or SIFIDE).
- Box 09 — taxable income: after the box 07 adjustments, tax losses from earlier years are deducted (up to 70% of taxable income, carried forward for up to 12 years).
- Box 10 — corporate tax charge: the rate is applied to taxable income (15% then 19% for SMEs, by band). Tax credits are then deducted (RFAI, SIFIDE, credits for international double taxation).
- Box 12 — tax payable or recoverable: payments on account, and the additional payment on account where applicable, are deducted from the charge. The result is either tax to pay (by 31 August) or tax to recover (by refund claim).
- Validate and submit before 19 June 2026.
The Modelo 22 should be prepared by the company’s Chartered Accountant, from the statutory accounts and the financial statements for the year. The return is signed electronically by the accountant using their OCC credentials.
Penalties for late filing or non-filing
| Offence | Fine (company) |
|---|---|
| Late filing (negligence) | EUR 400 to EUR 22,500 |
| Late filing (intent) | EUR 800 to EUR 45,000 |
| Non-filing | Assessment on the authority’s own initiative plus the maximum fine |
| Late payment of the tax | Compensatory interest at 4% a year plus default interest |
Where the position is regularised voluntarily before any notification from the tax authority, fines can be reduced by 50% to 75%, depending on when the regularisation happens.
Filing late but before assessment is always better than not filing: the tax authority can otherwise assess on its own initiative, using estimates that do not reflect the company’s reality.
Payments on account against the additional payment on account
Since the PEC was repealed by Law 12/2022, two advance payments of corporate tax remain, with different logics:
| Payment | Who pays | When | How it is calculated |
|---|---|---|---|
| Payments on account | Companies with turnover above EUR 500,000 | 31 Jul / 30 Sep / 15 Dec | ~1/3 of the previous year’s assessed tax, in three instalments |
| Additional payment on account | Companies with taxable profit above EUR 1.5m | Same dates as payments on account | The state surcharge paid in advance, 3% to 9% on the excess |
Both are deducted from the final corporate tax assessed on the Modelo 22. Where they exceed the tax assessed, the difference is refundable.
What changed in the Modelo 22 for 2026
For the 2025 financial year, declared in 2026, the main structural changes were:
- The 15% SME rate is unchanged on the first EUR 50,000 of taxable income, with 19% above — no change from 2025.
- The ICE regime is reinforced — the Incentive for the Capitalisation of Companies: a deduction of 4.5% of the net increase in eligible equity in the year and the preceding 6 years (article 41-A of the Code).
- The 12.5% start-up rate is maintained for the 1st and 2nd years of activity, with tighter eligibility requirements.
- Loss carry-forward: 70% of taxable income as a general rule, or 100% for qualifying SMEs, carried forward for up to 12 years.
- Capital gains on qualifying holdings (10% or more of the capital, held at least a year): 50% of the gain excluded from tax on eligible transactions.
- Boxes 07 and 12 of the form: minor adjustments to accommodate the new codes for the ICE and the capital gains regime.
For a detailed look at the ICE: ICE — Incentive for the Capitalisation of Companies 2026 →
Frequently asked questions about the Modelo 22 in 2026
What is the Modelo 22 deadline in 2026?
The Modelo 22 return for the 2025 financial year must be filed by 19 June 2026.
When is the corporate tax paid?
The tax assessed on the Modelo 22, after deducting payments on account, must be paid by 31 August 2026.
Does the PEC (special payment on account) still exist?
No. Article 106 of the Corporate Income Tax Code, which created the PEC, was repealed by article 326 of Law 12/2022 of 27 June. There has been no PEC since the 2022 financial year. The advance payments of corporate tax now in force are payments on account (art. 105 of the Code) and the additional payment on account (art. 105-A).
What is the corporate tax rate for SMEs in 2026?
SMEs pay 15% on the first EUR 50,000 of taxable profit and 19% on the excess. Start-ups in their 1st and 2nd year benefit from 12.5%.
What happens if I file the Modelo 22 late?
A fine of EUR 400 to EUR 22,500 for companies, plus compensatory interest at 4% a year on the tax owed. The tax authority can also assess on its own initiative.
Do I have to file the Modelo 22 if the company made a loss?
Yes, without exception. The Modelo 22 is due regardless of the result — loss, nil or profit.
What is the difference between payments on account and the additional payment on account?
Payments on account are three instalments (Jul/Sep/Dec) due from companies turning over more than EUR 500,000. The additional payment on account is the state surcharge paid in advance, for companies with taxable profit above EUR 1.5m. Both are deducted from the final tax on the Modelo 22. The PEC, which used to be the third, was repealed by Law 12/2022.
How are tax losses carried forward on the Modelo 22?
Losses from earlier years are reported in box 09. The limit is 70% of taxable income as a general rule, or 100% for SMEs. The carry-forward period is 12 years.
Can I file without the tax file prepared?
It is not advisable. The tax file (art. 130 of the Code) should be complete when the Modelo 22 is submitted — the tax authority can require it to be produced within 15 days of any request.
What changed in the Modelo 22 in 2026 against 2025?
SME rates unchanged (15% / 19%), the ICE reinforced (a 4.5% deduction on equity), start-ups still at 12.5%, and new codes in box 07 for the capital gains regime on qualifying holdings.
Need help with the Modelo 22 and your company’s corporate tax? See HVR’s accounting services →