How to file a return for previous years

Tax periods starting from 1 January 2015

Below you can find the new features that specifically affect the settlement of Corporation Tax in 2015:

• Civil societies are not subject to this tax. Civil societies that have a commercial form will be considered taxpayers of Corporation Tax as of 2016.

• Deductions corresponding to goodwill are subject to the maximum annual limit of one hundredth of their amount.

• There is no quantity limit in the offsetting of tax loss carryforwards except in the case of taxpayers whose volume of operations, calculated in accordance with article 121 of Act 37/1992 of 28 December on Value Added Tax, has exceeded the sum of 6,010,121.04 euros during the 12 months prior to the date the tax period commences.

  For these taxpayers, offsetting of tax loss carryforwards cannot exceed the result of applying the following percentages to the gross tax base prior to applying the capitalisation reserve and prior to the offset:

  • 50 per cent, when the net turnover in these 12 months is between 20 million euros and 60 million euros.

  • 25 per cent, when the net turnover is above 60 million euros.

  This limitation will not be applicable to the amount of income corresponding to debt reduction as a result of reaching an agreement with the taxpayer's creditors.

• The general tax rate will be 28%.

  Small-sized companies will be taxed at 25% on the portion of the gross tax base between 0 and 300,000 and at 28% on the remaining gross tax base amount.