Optional business property contribution (CFE) exemption for independent record shops

Article 43 of the 2016 amending finance act creates Article 1464 M of the General Tax Code: municipalities and inter-municipal bodies with their own tax powers may, by decision, exempt from the business property contribution establishments whose main activity is retail sale of sound recordings, provided they belong to an SME within the EU definition, at least 50% owned by individuals and not bound by a franchise contract. The exemption is subject to the de minimis regulation. It applies from 2017 assessments, with decisions possible until 21 January 2017.