Exemption threshold of the annual flat-rate corporate tax raised to €400,000 of turnover

Article 17 of the 2007 Finance Act raises from €300,000 to €400,000 the turnover below which companies subject to corporate tax do not owe the annual flat-rate tax (Article 223 septies of the General Tax Code). As no specific date is set, the provision applies from 1 January 2007. The 2009 Finance Act then began abolishing this tax in three stages, the first exempting companies with turnover below €1.5 million from 2009.