Corporation Tax Administration
Companies are generally assessed on the basis of an annual accounting period. Adjustments are made where there is a longer accounting period. where there are shorter accounting periods they are aggregated.
A company must make the corporation tax return within 8 months and three weeks of its accounting date- by the 21st day of the ninth month. If it does not do so, a surcharge of up to 10% of tax liability (capped at €63,485 and a restriction of up to 50% of certain reliefs including those for losses (capped at €158,715) applies.
Larger companies must make the return in iXBRL format. This is intended to be extended to all corporate taxpayers over a period.
A small company for payment purposes is one with a corporation tax liability of less than €200,000 in the previous year. Other companies are large companies.
Payment
Large companies must pay the first instalment of preliminary tax six months from the commencement of their accounting period effectively by 21st of the six months. The payment must be equal to 45% of the final corporation tax liability or 50% of the liability for the preceding period. Otherwise, an interest charge for late payment arises.
The second instalment is due one month/21 days before the end of the tax accounting period by the 21st date of that month. This must bring total liability to 90% of the final liability for the period The balance of the tax is due when the corporation tax return is filed i.e. by the 21st of the ninth month following the end of the accounting period.
Small companies must pay corporation tax in one instalment. This is due 31 days before the end of the tax accounting period but in any event no later than the 21st day of the month.
The instalment is equal to 90% of the final corporation tax liability for that or 100% of the corporation tax liability for the preceding period. As with the larger company, any balances due are payable with the corporation tax return in the ninth month after the end of the accounting period.
In the case of start-up companies if the corporation tax is less than the above limit their preliminary corporation tax is zero
The payment dates for capital gains tax development land is the same as for individuals. They are not subject to corporation tax but income tax.
When as is mandatory in most cases, returns are made electronically through the Revenue Online System (ROS) the deadlines for filing are extended to the 23rd day of the month concerned.