Joint ceiling for the investment deduction and the hazard deduction for farmers

Article 101 of the 2004 Finance Act creates Article 72 D ter of the General Tax Code and amends Articles 72 D and 72 D bis. Farmers taxed on actual profits may use the investment deduction and the hazard deduction within an overall ceiling set, per financial year, at either EUR 3,000 within the limit of profit, or 40% of profit up to EUR 12,000, increased by 20% of the portion of profit between EUR 30,000 and EUR 76,000. The ceiling is multiplied by the number of farming partners in EARLs, up to three times. It applies to financial years beginning on or after 1 January 2004.