Wednesday, January 19, 2011

Extra tax charge on profits to bring 1.2 billion euros to state coffers

An extra tax charge on profit-making enterprises for 2010 will bring revenues totaling 1.21 billion euros to state coffers, with the first tranche of this "extraordinary" tax charge expected to be paid by January 31, a finance ministry announcement stated on Wednesday.
 
The extra tax charge will be paid by all enterprises with a net income or net profits more than 100,000 euros. The report said that a total of 20,010 companies met this criterion in 2010, while only 16,922 will have to pay this tax.
 
The extra tax charge can be paid in 12 equal monthly payments of no less than 1,000 euros.
 
The report showed that 11,904 companies reported net profits between 100,000 and 300,000 euros last year, another 3,571 companies reported net profits of between 300,000 and 1,000,000, while another 1,146 enterprises reported net profits of between 1.0 million and 5.0 million euros. Only 301 enterprises reported net profits of more than five million euros.
 
 
 
source: ANA