Large companies are once again facing changes in the calculation of their corporate income tax prepayments. New minimum income thresholds are being introduced.

On September 30, 2016, Royal Decree-Law 2/2016, of September 30 , was published in the Official State Gazette (BOE) , introducing tax measures aimed at reducing the public deficit, which modifies, with effect for tax periods beginning on or after January 1, 2016, Law 27/2014, of November 27, on Corporate Income Tax.

The regulatory change affects taxpayers whose net turnover in the 12 months prior to the start of the tax period is at least 10 million euros.

These companies, which calculate the advance payment in the manner provided for in section 3 of article 40 of the LIS, that is, taking as a basis for calculation the result of the first 3, 9 or 11 months of each calendar year, must take into account the following considerations in the third installment payment of this 2016 financial year:

1. Existence of a minimum amount to be paid: the amount to be paid may not be less, under any circumstances, than 23 percent of the positive result of the profit and loss account for the first 3, 9, or 11 months of each calendar year. This minimum amount to be paid will not apply to the entities referred to in sections 3, 4, and 5 of Article 29 of the LIS (tax rates other than the general rate), nor to those referred to in Law 11/2009, of October 26, which regulates Listed Real Estate Investment Companies.

In the case of taxpayers to whom the tax rate of 30% applies, the amount to be paid will be 25 percent of the positive result of the profit and loss account for the first 3, 9 or 11 months of each calendar year.

2.-The amount to be paid will result from applying the percentage resulting from multiplying by nineteen twentieths the tax rate rounded up.

Our expert consultants will be happy to answer your questions and resolve your doubts.

  Alicia Conesa,
Fiscal Area

  Àmbit Assesor

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