Creation of the tax credit for business managers' training

Article 3 of the Act of 2 August 2005 on small and medium-sized enterprises creates a tax credit (Article 244 quater M of the General Tax Code) for businesses taxed on actual profits, or exempt under certain start-up or location schemes. It equals the number of hours the business manager spends in training multiplied by the hourly minimum wage, up to forty hours per calendar year, and is set against income tax or corporate tax, with any excess refunded. Decree No. 2006-1040 of 23 August 2006 specifies the managers and training concerned and uses the minimum wage in force on 31 December of the year. The tax credit applied to training hours completed until 31 December 2024.