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Social Contribution on Corporate Profits (CSB)

DSK & Nicolas SarkozyFor periods ending on or after 1 January 2000, corporation tax payers are liable to a social contribution equal to 3.3% of the corporation tax calculated on their taxable earnings at the standard rate (33.33%) or at the reduced rates (16.5% or 15%). It is based on the amount of corporation tax for the year minus relief that may not exceed €763,000 per twelve-month period.

Corporation tax payers with turnover of less than €7,630,000, at least 75% of whose fully paid-up capital has been held continuously by individuals or a company meeting the same conditions are exempt from the contribution.

The social contribution is collected in the same way as corporation tax and with the same guarantees and sanctions. It must be paid spontaneously at the latest on the date on which the outstanding balance of corporation tax is paid. Four instalments are paid, at the same dates as corporation tax instalments, before payment of the final balance.

The social contribution on corporate profits is not a deductible expense for the purposes of calculating the assessment base for corporation tax.

It is expected to yield €1.15 billion in 2010.

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Posted by on May 13 2012. Filed under Social Contribution on Corporate Profites (CSB), Social Contribution on Corporate Profites (CSB). You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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