Fiscal Bulletin - Tax - 1 November 2023
The minimum turnover tax ("IMCA") becomes applicable as of 01.01.2024 or as of the first day of the amended tax year beginning in 2024.
The IMCA is applicable to companies which have a turnover exceeding EUR 50 million in the previous year and which determine in the year of calculation a corporate income tax lower than the IMCA amount. The IMCA is calculated according to the following calculation formula: IMCA = 1% x (VT1 - Vs2 - I3 - A4).
The assets considered for the calculation of I and A are those established by Order of the Ministry of Finance, and the selection of eligible asset categories is made based on certain criteria linked to the nature of the activity carried out.