How are payments in instalments calculated according to the regime regulated in Article 40.2 of the Corporation Tax Act (LIS)?
We explain how the installment payment is calculated according to the modality of article 40.2 of the LIS
To determine the amount of the installment payment in accordance with the modality provided for in article 40.2 LIS , the following procedure will be followed:
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The full installment of the last tax period whose declaration deadline was expired on the 1st of the month of April, October or December, as appropriate, will be taken as the basis for calculation, reduced by the deductions and bonuses that apply to it, as well as the withholdings and payments on account corresponding to it.
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18% will be applied to this calculation basis, thus obtaining the amount of the corresponding payment.
As a special rule, it must be noted that when the last finalised tax period has a duration of under one year, the proportional part of the amount of previous tax periods, up to a period of twelve months, must also be taken into account.