Final corporate income tax instalment strengthened and extended to companies with turnover above €250 million

Large companies calculate their final corporate income tax instalment on the estimated tax for the current year rather than on the last closed year. The 2013 Finance Act lowers the turnover threshold for this rule from €500 million to €250 million. It also raises the minimum shares of estimated tax to be paid: from two thirds to three quarters, from 80% to 85% and from 90% to 95% depending on company size. It applies to financial years starting on or after 1 January 2013.