The 5% exceptional surtax due for fiscal years ended as of December 31, 2011, by companies whose turnover exceeds 250 million euros, will now have to be paid on the date expected for payment of the last corporate income tax installment due for the year underway. This is a measure to provide cash to the State and it will apply to fiscal years ending as of December 31, 2012 (this surtax’s first anticipated payment is supposed to take place on December 15, 2012).
The amount to be paid will have to represent 75% of the estimated exceptional surtax for companies whose turnover did not exceed 1 billion euros for the previous fiscal year, and 95% for all other companies. For parent companies of an tax consolidated group, the total turnover of all the group’s member companies will be used to assess whether the threshold is reached.
Anticipated payments exceeding the contribution due will be reimbursed within 30 days of the date of the filing of the corporate income tax balance; payment shortfalls may be subject to late payment interest and a 5% penalty if the shortfall exceeds the cumulative thresholds set by the new provision.