For the financial year 2018 and subsequent years, a series of amendments to the Corporate Income Tax will be approved, in relation to the financial year 2017 already presented.
Among the various modifications to the tax, the following are the most important for micro and small businesses:
- Reduction of the micro-enterprise bonus, from 20% applied in 2017 to 15% applied in 2018 and 10% applied in 2019.
- Compensation of losses from previous years, going from 100% that applies in 2017 to 70% that will apply in 2018 and 2019, with its generation going from 15 years to 30 years.
- Tax rate, from 24% applicable in 2017 to 22% applicable in 2018 and 20% applicable in 2019.
| SUMMARY TABLE | 2017 | 2018 | 2019 |
|---|---|---|---|
| COMPANY BONUS | 20% | 15% | 10% |
| LOSS COMPENSATION PREVIOUS YEARS |
100% | 70% | 70% |
| MICRO AND SMALL BUSINESS TAX RATE | 24% | 22% | 20% |
- Limitation of the deduction of net financial expenses to 30% of the operating profit for the year and an incompatibility of application of the thin capitalization rule to returns applying the limitation of financial expenses.
- Once the declaration has been submitted, it will not be modified.
- In order to be able to apply the deduction for job creation, the salary must be 170% higher than the Minimum Interprofessional Wage.