Exceptional and additional corporate tax surcharges on very large companies
The 2017 amending Finance Act creates two one-off surcharges on corporate tax: an exceptional surcharge of 15% of the tax for companies with turnover of at least €1bn, and an additional 15% surcharge for those with at least €3bn, i.e. 30% in total. They apply to financial years ending between 31 December 2017 and 30 December 2018.
Measure originators
A positive amount is revenue or savings for public finances; a negative amount is a cost or lost revenue.
Measure impact
Concerns large companies, offsetting the refund of the 3% dividend tax ruled unconstitutional (decision No. 2017-660 QPC of 6 October 2017). Expected revenue of €5.4bn (€4.8bn in 2017, €0.6bn in 2018).
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
President of the Republic signature
Publication au Journal officiel
Possible referral to Constitutional Council
Décision de conformité / censure partielle
Debate and vote
Debate and vote
Débat et vote en séance publique à l'Assemblée nationale, ou engagement de la responsabilité du Gouvernement (article 49.3)
Council of Ministers
Validation interne