Recovering an overpayment of corporation tax
Sometimes the profit paid in advance is higher than the profit received, resulting in an overpayment.
- Under the new rules, companies will only be able to apply for a refund of overpaid corporation tax if they have submitted their financial statements to the Register of Legal Entities (ROE).
This is mandatory in order to check whether the overpayment of corporation tax is correct.
It’s important to know that financial statements are necessary for the tax authorities to check that the company’s profit and loss account is correct.
- In the absence of financial statements, it is not possible to determine whether the overpayment has been calculated on a reasonable basis.
Also, according to the VMI rules, companies wishing to recover an overpayment must submit financial documents for the tax period in which the overpayment occurred.
