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Changes in fractionated payments of the Corporation Tax

The Government of Spain, through the , approved in the last Council of Ministers the Royal Decree-Law 2/2016, of

The Government of Spain, through the Royal Decree-Law 2/2016, of September 30, through which tax measures are introduced to the reduction of the public deficit and that generate modifications in the fractional payments of the Corporation Tax.

This royal decree introduces as the main novelty that companies that invoice more than 10 million euros, must advance 23% of their accounting result to the Treasury, while in the case of companies belonging to the banking and oil sector, the advance increases to 25%.

What are fractionated payments of the Corporation Tax?

Fractional payments of the Corporation Tax are advanced payments of the total amount to be paid in the Corporation Tax. These are carried out quarterly by companies to the Treasury. Therefore, these announced measures affect the tax periods that are initiated as of January 1, 2016, but will not apply to fractionated payments whose term of declaration has begun before the entry into force of this RD.

What has changed?

These last years (2013, 2014 and 2015) had been established extraordinarily, through RD 20/2012, a minimum amount in fractionated payments of the 12% companies tax for companies with higher annual income at 20 million euros. This measure expired in this year and with this announcement, the new conditions will immediately come into force.

The Ministry of Finance and Public Administrations of the Popular Party, headed by Cristóbal Montoro, said, regarding these changes in fractionated payments of the Corporation Tax, which the Government of Spain intends to obtain a greater tax collection, seeking thus reduce the public deficit for this year to 4.6%.

What can you help me?

One of the branches of specialty of our team is the fiscal area, in which we try to offer tax planning that enables the reduction of the tax burden, through the use of all the possibilities provided by the current regulations. We know that the existing fiscal pressure leads us inexorably to give greater importance to fiscal management in the company, so, in Verum Management we try to integrate it together with the rest of the basic management functions.

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