{"id":6879,"date":"2022-01-31T16:38:31","date_gmt":"2022-01-31T16:38:31","guid":{"rendered":"https:\/\/gmtaxconsultancy.com\/?p=6879"},"modified":"2022-01-31T16:43:12","modified_gmt":"2022-01-31T16:43:12","slug":"minimum-corporate-taxation","status":"publish","type":"post","link":"https:\/\/gmtaxconsultancy.com\/en\/tax\/minimum-corporate-taxation\/","title":{"rendered":"Minimum Corporate Taxation"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">With effects for tax periods starting from 01-01-2022, minimum taxation of 15% is established in <a href=\"https:\/\/gmtaxconsultancy.com\/en\/corporation-tax-services\/\">Corporation Tax<\/a>. This amendment in the Law affects the following taxpayers:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Companies with revenues are at least 20 million Euros during the 12 months before the date on which the tax period begins and,<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Companies that are taxed in the fiscal consolidation regime, regardless of the amount of the revenues.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In these cases, the net amount of Corporation Tax may not be less than the result of applying 15% to the tax base,\u00a0 reduced or increased by the equalization reserve and reduced in the Reserve for Canary Islands Investments.<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 ez-toc-wrap-left counter-hierarchy ez-toc-counter ez-toc-white ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">\u00cdndice contenidos<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/gmtaxconsultancy.com\/en\/tax\/minimum-corporate-taxation\/#Calculation_of_the_tax_liability\" >Calculation of the tax liability<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/gmtaxconsultancy.com\/en\/tax\/minimum-corporate-taxation\/#Exceptions\" >Exceptions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/gmtaxconsultancy.com\/en\/tax\/minimum-corporate-taxation\/#Special_rules\" >Special rules<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Calculation_of_the_tax_liability\"><\/span><b>Calculation of the tax liability<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">In the first place, the full quota is reduced in the applicable tax allowances.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Secondly, apply double taxation deductions\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Once the tax allowances and double taxation deductions have been applied, if the result is less than the minimum liquid quota, this result will be considered a minimum liquid quota.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The remaining deductions that are applicable can be applied until the amount of minimum liquid quota.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Exceptions\"><\/span><b>Exceptions<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">This modification in taxation will not affect taxpayers who pay taxes at the tax rates of 0%, 1% or 10%. Neither will it affect SOCIMI.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Special_rules\"><\/span><b>Special rules<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">For newly created companies, the percentage to be applied is 10%<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">For entities with a tax rate of 30% (credit institutions and hydrocarbon research and exploration entities), the percentage to be applied is 18%.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">In the case of cooperatives, the minimum liquid quota cannot be less than the result of applying 60% to the full quota calculated following the provisions of their special regime.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">In ZEC entities, the positive tax base on which the percentage is applied does not include the part corresponding to the transactions carried out materially and effectively in the geographical scope of the ZEC that is taxed at the special tax rate.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>If you have any questions regarding this topic, please contact our\u00a0<a href=\"https:\/\/gmtaxconsultancy.com\/en\/contact\/\">tax advisors in Barcelona<\/a>\u00a0by phone or email.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With effects for tax periods starting from 01-01-2022, minimum taxation of 15% is established in Corporation Tax. This amendment in the Law affects the following taxpayers: Companies with revenues are at least 20 million Euros during the 12 months before the date on which the tax period begins and, Companies that are taxed in the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6880,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[52],"tags":[],"class_list":["post-6879","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tax"],"_links":{"self":[{"href":"https:\/\/gmtaxconsultancy.com\/en\/wp-json\/wp\/v2\/posts\/6879","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gmtaxconsultancy.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gmtaxconsultancy.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gmtaxconsultancy.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/gmtaxconsultancy.com\/en\/wp-json\/wp\/v2\/comments?post=6879"}],"version-history":[{"count":0,"href":"https:\/\/gmtaxconsultancy.com\/en\/wp-json\/wp\/v2\/posts\/6879\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gmtaxconsultancy.com\/en\/wp-json\/wp\/v2\/media\/6880"}],"wp:attachment":[{"href":"https:\/\/gmtaxconsultancy.com\/en\/wp-json\/wp\/v2\/media?parent=6879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gmtaxconsultancy.com\/en\/wp-json\/wp\/v2\/categories?post=6879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gmtaxconsultancy.com\/en\/wp-json\/wp\/v2\/tags?post=6879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}