On April 19, 2012, the members of the European Parliament voted in favor of the compulsory introduction of a common corporate tax base with a clear majority of 452 against 172 votes at first reading of the consultation procedure. With this decision, the Parliament goes beyond the draft legislation of the European Commission, which only provides for a voluntary system.
Corporation Tax Rates
The main rate of Corporation Tax will fall from 26% to 25% from April 2012, 24% from April 2013 and 23% from April 2014. The small companies' rate remains at 20%.