Tax Law

The wage tax is a tax due by France-based companies that are not subject to VAT for the entirety of their turnover. This tax is calculated on the basis of the remunerations paid to employees and is currently addressed in Parliamentary discussions on both the Amended Finance Bill for 2012 and the Social Security Finance […]

The second amended Finance Bill for 2012 has introduced an additional 3% contribution on all sums distributed by companies subject to corporate income tax (“CIT”). While this additional tax is certainly a surcharge for companies, it also creates tax distortions between consolidated and non-consolidated groups. 1. Scope of application 1.1. Taxable entities The additional 3% tax […]

During the Council of Ministers held on September 12, 2012, the French Economy and Finance Minister presented the main tax and budgetary guidelines for 2013. On September 28, 2012, the Council of Ministers will adopt the draft Budget Bill for 2013 and, on October 10, 2012, it should adopt the draft Social Security Finance Bill […]

After two weeks of stormy debates, the French parliament finally adopted the second amended finance bill for 2012 on July 31. This is the first step of the tax reform announced by the French government and further measures are expected in the fall. The objective of this amended finance bill (“AFB”) is two-fold:  (i) breaking […]

While the trust, an Anglo-American wealth management tool, has been increasingly used in France in the past few years, it still remains little known and moderately appreciated.   This situation is all the more surprising as the trust structure was historically born in France at the time of the Crusades during the 12th and 13th centuries. […]