Expense-and-charge share on capital gains from the sale of participating interests raised to 12% of the gross amount
The 2013 Finance Act changes how the share of expenses and charges added back to taxable profit is calculated for companies selling participating interests held for at least two years. The gains remain exempt from corporate income tax, but the taxable share moves from 10% of the net gains to 12% of their gross amount. With no specific start date in the law, it applies to financial years ending on or after 31 December 2012.
Measure originators
No official estimate found for this measure.
Measure impact
According to the National Assembly general rapporteur, the bill's version (10% of the gross amount) was expected to raise €1 billion a year, doubled in 2013 because both the 2012 tax balance and the 2013 instalments are affected in the same year. The 12% rate was set during the parliamentary process. Large groups are mainly concerned.
Official references
Sources
Procedure timeline
Follow the progress of this fiscal measure through the different stages of the parliamentary procedure.
Administrative implementation
Entrée en vigueur de la mesure et mise en œuvre par l'administration
Possible referral to Constitutional Council
Décision de conformité / censure partielle
President of the Republic signature
Publication au Journal officiel
National Assembly has the final say
Si échec CMP