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Updates Tax 3-2012 

Saturday, March 31, 2012 saw the publication in the Official State Gazette of Royal Decree-law 12/2012, of March 30, 2012, which makes a change to the system for making corporate income tax prepayments, a change that must be taken into account when preparing the prepayments to be made in 2012, alongside those made to the prepayment system by Royal Decree-law 9/2011, of August 19, 2011.
These changes have a direct effect on the prepayment that large enterprises must make within the first 20 days of this month of April. With this in mind, although we described these changes in our previous tax newsletter (issue 2-2012), below is a reminder of the rules applying to the prepayment that needs to be made over the next few days, plus a detailed analysis of some of the most significant rules.

1. PREPAYMENT CALCULATION METHODS

2. CALCULATION OF THE PREPAYMENT FOR APRIL 2012. VARIOUS SCENARIOS
2.1 Taxpayers with turnovers above €6,010,121.04 that commenced their last tax period in 2012
2.2 Taxpayers with turnovers above €6,010,121.04 that commenced their last tax period in 2011
2.3 Taxpayers with turnovers below €6,010,121.0 that have elected to apply prepayment method b)
2.4 Taxpayers with turnovers below €6,010,121.04 that have not elected to apply prepayment method b)