Corporate tax: minimum final instalment for large companies and exceptional instalment on 30 December 2005

Article 1 of the 2005 Amending Finance Act amends Article 1668 of the General Tax Code: for companies with turnover between €1 billion and €5 billion, the final corporate tax instalment may not be less than the difference between two-thirds of the estimated tax for the year and instalments already paid; above €5 billion, the reference is 80%. Late interest and a surcharge apply if the gap with the tax finally due exceeds 10% and €15 million (Art. 1785 A). Companies concerned with a 31 December 2005 year-end must pay by 30 December 2005 an exceptional instalment calculated the same way; the permanent regime applies to instalments due from 1 January 2006.