United Kingdom – Corporate Taxes Summary

Resident companies are taxable in the United Kingdom on their worldwide profits (subject to an opt-out for non-UK PEs), while non-resident companies are subject to UK corporation tax on the trading profits attributable to a UK PE, the trading profits attributable to
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Tax Faculty supplements ICAEW’s Spring Budget 2024 representations by writing to government on HMRC service performance and VAT simplification.

On 29 January 2024, ICAEW Head of Tax Strategy, Frank Haskew, sent two letters to the Financial Secretary to the Treasury (FST), Nigel Huddleston MP.   The first letter concerned HMRC service performance. It called for increased investment in HMRC to develop better digital
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Spain – Corporate Taxes Summary

The general CIT rate in Spain is 25%. Other tax rates may apply, depending on the type of company that is taxed and its type of business. Resident companies are taxed on their worldwide income. For PEs in Spain of foreign companies, non-resident income
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Portugal – Corporate Taxes Summary

Resident companies in Portugal are taxed on their worldwide income.  There is an optional regime to exclude from taxation the profits and losses allocated to a foreign PE of a company resident, for tax purposes, in Portugal. The regime applies provided that
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Norway – Corporate Taxes Summary

A Norwegian resident company is, as a starting point, subject to corporate income tax (CIT) on its worldwide income. Non-resident companies are, as a starting point, liable for CIT in Norway when engaged in a business that is either conducted in or
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Poland – Corporate Taxes Summary

The CIT is the tax levied on corporate income. The standard CIT rate is 19%. The reduced CIT rate of 9% can be applied for income, other than capital gains, if the taxpayer: The lower rate does not apply to tax capital
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Netherlands – Corporate Taxes Summary

In general, a Dutch resident company is subject to CIT on its worldwide income. However, certain income can be exempted or excluded from the tax base. Non-resident entities only have a limited tax liability with regard to income from Dutch sources. Standard
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Malta – Corporate Taxes Summary

A company incorporated in Malta is considered as both domiciled and resident in Malta and is consequently taxable on a worldwide basis. A non-Maltese incorporated company that is resident in Malta through management and control is subject to Maltese tax on income
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Luxembourg – Corporate Taxes Summary

Luxembourg taxes its corporate residents on their worldwide income and non-residents only on Luxembourg-source income. Businesses with taxable income lower than 175,000 euros (EUR) are subject to corporate income tax (CIT) at a rate of 15%. Businesses with taxable income between EUR 175,000
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Lithuania – Corporate Taxes Summary

The standard CIT rate is 15%. However, small companies and agricultural companies can apply a reduced CIT rate of 0% or 5% if certain conditions are met. A new amendment to the Law on CIT entered into force on 1 July 2022, which
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