Business tax relief for new investments made between 2004 and mid-2005

Article 11 of the Act of 9 August 2004 creates Article 1647 C quinquies of the General Tax Code: business tax (taxe professionnelle) for 2005, 2006 and 2007 is relieved for the share based on the rental value of tangible fixed assets created or acquired between 1 January 2004 and 30 June 2005 and eligible for declining-balance depreciation. The relief uses the year's overall rate, capped at the municipality's 2003 rate, and cannot bring the tax below the minimum contribution. Total relief per taxpayer is capped at €76,225,000.