Business tax relief on new investments (October 2008 - December 2009)
Article 22 of the amending finance act for 2008 creates a permanent relief from the business tax (taxe professionnelle, Article 1647 C quinquies A of the General Tax Code) for the share of the tax relating to equipment and movable assets created or acquired new between 23 October 2008, when the President of the Republic announced the measure, and 31 December 2009. The relief equals the rental value of these assets multiplied by the municipality's overall tax rate. These assets are also excluded from the base of the chamber of commerce levy. Additional relief is provided for companies whose tax is capped according to value added. The business tax was abolished from 2010.
Measure originators
A positive amount is revenue or savings for public finances; a negative amount is a cost or lost revenue.
Measure impact
Companies investing in new equipment between late October 2008 and end-2009 pay no business tax on these assets. The relief is borne by the State, so local authorities keep their revenue.
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
Joint committee
Désaccord éventuel
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)