Until tax year 2018 companies risked to be taxed on a minimum profit of EUR 19.000 in case of no or late filing of their corporate income tax return. This minimum taxable profit has now been increased to EUR 34.000 as from tax year 2019 (accounting years started as from January 1, 2018) and will increase further to EUR 40.000 as from tax year 2021 (accounting years as from January 1, 2020).
In case of repeated non or late filing the amount is further increased as follows:
- In the event of a second infringement: 25% - In the event of a third infringement: 50%
- In the event of a fourth infringement: 100% - In the event of a fifth infringement: 200% A previous non or late filing is not taken into account to determine the percentage increase, if no infringement is penalized for the last 4 assessment years preceding the assessment year for which the new infringement is committed.
In order to avoid the taxation on the above mentioned minimum profits, make sure to file your corporate tax return in time!