Social contribution exemptions for young innovative companies capped and phased down

Article 175 of the 2011 Finance Act amends the employer contribution exemption for young innovative companies (Article 131 of the 2004 Finance Act). The exemption is limited to contributions on the share of pay below 4.5 times the minimum wage and to an annual amount per establishment equal to three annual social security ceilings. It applies in full until the end of the third year after the establishment is created, then at 75%, 50%, 30% and 10% in the following years. The amending finance act of 28 December 2011 eased this scheme from 2012.