'Papin' pact: super-depreciation and tax relief for takeovers of very small businesses and SMEs

Very small businesses (TPE) and SMEs taken over between 2027 and 2029 could apply a super-depreciation of 60% (micro-enterprises, all depreciable assets) or 30% (other SMEs, listed assets) on investments following the takeover. For takeovers by employees, the fixed allowance on the capital gain of a seller retiring would be doubled and transfer duties on business goodwill and company shares would be lowered (0.1%), subject to a seniority condition and a five-year holding commitment.