How are payments in instalments calculated according to the regime regulated in Article 40.2 of the Corporation Tax Act (LIS)?
We explain you how payments in instalments are calculated in accordance with Article 40.2 of the Spanish Corporation Tax Acr (LIS)
To determine the amount of the instalment payment in accordance with the type foreseen in article 40.2 Spanish Corporation Tax Act (LIS), the following procedure will be used:
The calculation basis will be the full amount of the last tax period for which the tax return due date was 1 April, 1 October or 1 December, whichever may be the case, reduced by any deductions and allowances that may be applicable, as well as any corresponding withholdings and payments on account.
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.