Exceptional corporate income tax surcharge raised from 5% to 10.7%
The 2014 Finance Act raised from 5% to 10.7% the rate of the exceptional contribution on corporate income tax (article 235 ter ZAA of the General Tax Code), due by companies with turnover above 250 million euros. The new rate applies to financial years ending on or after 31 December 2013. The increase replaced the contribution on gross operating surplus initially proposed in the bill.
Measure originators
A positive amount is revenue or savings for public finances; a negative amount is a cost or lost revenue.
Measure impact
The measure concerns large companies. According to the Senate finance committee report, its yield is about 2.5 billion euros. The contribution was extended by one year by the amending finance act of 8 August 2014. It no longer applies to financial years ending on or after 31 December 2016.
Official references
Sources
Procedure timeline
Follow the progress of this fiscal measure through the different stages of the parliamentary procedure.
Administrative implementation
Entrée en vigueur de la mesure et mise en œuvre par l'administration
Possible referral to Constitutional Council
Décision de conformité / censure partielle
President of the Republic signature
Publication au Journal officiel
Council of Ministers
Validation interne