15% of corporate Tax*

* The reduced corporate tax rate of 15% applies to companies that meet the following 2 conditions:

- Turnover excluding tax of less than €10 million

- Fully paid-up capital and at least 75% owned by natural persons (or by a company applying this criterion)

The 15% rate applies up to €42,500 in profits for SMEs: It should be noted that an SME: Small and medium-sized enterprise. Above this threshold, the profit is taxed at the standard corporate tax rate, i.e. at 25%.

Please note that the limit of €10 million in pre-tax turnover is calculated by reference to a turnover achieved in respect of a financial year or a period of 12 months.