Tax credit for training SME employees in employee savings schemes and business economics

Article 46 of the Act of 30 December 2006 on profit-sharing and employee share ownership creates a tax credit (Article 244 quater P of the General Tax Code) for small and medium-sized enterprises that train their employees in business economics, employee savings and employee share ownership with bodies on a prefectoral list. The credit equals 25% of the cost of the first ten hours of training per employee, counted up to €75 per hour, and is capped at €5,000 per company. It covers expenses incurred in 2007 and 2008 and is reserved for companies that had, on 1 January 2007, a company savings plan partly invested in solidarity funds. It applies within the EU de minimis aid rules. Decree No. 2007-804 of 11 May 2007 sets out the details.