Final corporate income tax instalment raised to 80% or 90% of estimated tax for large companies

Article 2 of the 2006 Amending Finance Act amends Article 1668 of the General Tax Code: the final corporate income tax instalment must bring total instalments to two thirds of the estimated tax for the year for companies with turnover between €500 million and €1 billion (entry threshold lowered from €1 billion to €500 million), to 80% between €1 billion and €5 billion, and to 90% above €5 billion. The surcharge under Article 1731 A for estimation errors is revised (gap above 20% and above €8 million or €2 million depending on size). These rules apply to instalments due from 1 January 2007; an exceptional instalment was also required on 29 December 2006. The percentages were changed again in 2013.