Profit tax exemption for businesses created in rural revitalisation zones (2004-2009)

Article 92 of the 2004 Finance Act amends Article 44 sexies of the General Tax Code. It extends to 31 December 2009 the exemption scheme for new businesses in eligible zones and provides that businesses created between 1 January 2004 and 31 December 2009 in rural revitalisation zones are exempt from income tax or corporate tax until the end of the 47th month following their creation. Profits are then taxed on only a quarter, a half and three quarters of their amount over the following three twelve-month periods. Mobile activities qualify if no more than 15% of turnover is generated outside the zone.