Form 200: Corporation Tax
It is filed by any company, and also — and this surprises a lot of people — by any association, foundation or club, unless it meets three conditions at once. Almost none of them does.
What form 200 is
Form 200 is the annual Corporation Tax return. It starts from the accounting result for the year and applies the adjustments the tax law requires — non-deductible expenses, depreciation, offsetting losses from earlier years — until it reaches the taxable base.
That is why orderly accounts are not a bureaucratic requirement: they are the starting point of the tax. If the accounting result is wrong, everything that comes after it is wrong too.
Who has to file it
Every company, and non-profit bodies as well. And here is the most widespread misunderstanding in the third sector:
An association is a taxable person for Corporation Tax
Even without a profit motive. It is only exempt from filing form 200 if it meets all three conditions at once:
- That its total income for the year does not go over €75,000.
- That the income corresponding to non-exempt income does not go over €2,000.
- That all of that non-exempt income has been subject to withholding.
It is the second condition that catches almost everyone: selling T-shirts, running a bar at the annual party or taking a sponsorship are income that is not exempt, and going over €2,000 between them all is normal. And the third one finishes the job, because bar takings carry no withholding from anyone.
Anyone under the regime of Ley 49/2002 files the 200 declaring their exempt income too, and is taxed at a reduced rate on whatever is not exempt.
When the 200 is filed
With the weekend shifts already applied: when the last day falls on a Saturday, a Sunday or a public holiday, the deadline ends on the next working day.
| Period | Deadline | Note |
|---|---|---|
| Financial year ending 31 December | 1 → 27 July | In 2026, because the 25th falls on a Saturday |
| Financial year with a different closing date | 25 calendar days after the 6 months following the year-end | The general rule of the tax |
| Paying by direct debit | Until 22 July | Five days before the deadline ends |
| Instalment payments (form 202) | April, October and December | 1 → 20 April and 20 October; 1 → 21 December in 2026 |
The deadline is not “July”: it is 25 calendar days counted from six months after the end of the financial year. It coincides with July only because most companies close on 31 December.
The rates, according to what you are
- General rate: 25%. It is the one that applies unless another one applies to you, and since 2025 another one applies to almost any small company.
- Small enterprises — with turnover for the previous year below 10 million — see the rate drop from 25% to 20%, but in steps too: 24% in the 2025 tax year, 23% in 2026, 22% in 2027, 21% in 2028 and 20% from then on. Those that do not reach one million have their own scale, which goes lower.
- Newly created entities: 15% in the first tax year with a positive taxable base and in the one after. Careful: in the first year with a profit, not in the first year of the company's life.
- Partially exempt entities — associations and clubs not covered by Ley 49/2002 — are taxed only on income that is not exempt.
- Entities under Ley 49/2002: a reduced rate of 10% on income that is not exempt.
- Cooperatives with protected tax status: a reduced rate for cooperative results, and the general rate for non-cooperative ones. Specially protected cooperatives also get a reduction in the tax due.
That is why in a cooperative you have to separate cooperative results from non-cooperative ones from the start: it is not an accounting whim, it is that they are taxed differently.
The scale for those turning over less than a million
This is the part almost nobody explains properly, and it affects the vast majority of small companies. Since the reform brought in by Ley 7/2024, entities whose net turnover for the previous year is below one million euros do not pay 25%: they apply a scale with two bands.
And there is a second twist: that scale comes in gradually, with different rates each year until it reaches the final ones.
| Tax year | Up to €50,000 of taxable base | The rest of the base |
|---|---|---|
| 2025 · the 200 filed in July 2026 | 21 % | 22 % |
| 2026 · the 200 filed in July 2027 | 19 % | 21 % |
| Final regime | 17 % | 20 % |
The scale in article 29.1 of the Corporation Tax Act, with the transitional application of its forty-fourth transitional provision. If the financial year is shorter than a year, the €50,000 band is apportioned by days.
In plain terms: a small company with €60,000 of taxable base in the 2025 tax year does not pay €15,000 — 25% — but €12,700: 21% of the first 50,000 — €10,500 — and 22% of the remaining 10,000 — €2,200. That is €2,300 of difference, and it is lost if somebody applies the general rate out of habit.
The mistakes that come up most on the 200
On the 200, the expensive mistakes are not arithmetic: they come from believing you are outside it.
“We are non-profit, we do not file”
False. An association is a taxable person for this tax. It only escapes if it meets all three conditions at once, and with a bar or a couple of sponsorships that is almost impossible.
Not filing because you made no profit
A company files the 200 even if the result is zero or negative. What is more, declaring the losses is what allows you to offset them in future years.
Not separating results in a cooperative
Cooperative results and non-cooperative results are taxed at different rates and allocated to different funds. Putting them together affects the cooperative's tax classification.
Forgetting the instalment payments
Form 202 is filed in April, October and December. Not filing it carries its own penalty, whatever the 200 comes out at.
Screenshot of the ERP: the form 200 screen
Where every number on the 200 comes from
Nothing has to be typed in again: the form is worked out from the invoices and the expenses you have already entered during the period.
- The accounting result comes from the year's accounts, not from a separate sheet.
- In an association, it checks the three exemption conditions against your real figures.
- In a cooperative, it separates cooperative results from non-cooperative ones.
- Depreciation on fixed assets is worked out and carried into the result.
- And the annual accounts come out in whichever format applies, including the one for non-profit entities.
And you can open any box
Every amount on the form can be expanded to see exactly which invoices and which expenses make it up. That is what turns a figure into something you can defend if you are asked.
The 200 comes out of what you have already entered
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Questions about form 200
This page is for information and is reviewed whenever the legislation or the calendar changes. It does not replace your accountant: for your own case, ask someone who knows your numbers.
So the 200 stops taking an afternoon
If the invoices and the expenses are in, the form is already done.
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