SME income tax reduction: payment ceilings raised to €50,000 and €100,000 for certain subscriptions

Article 86 of the amending finance act for 2008 inserts paragraphs II bis and II ter into Article 199 terdecies-0 A of the General Tax Code (income tax reduction for subscriptions to SME capital, known as "Madelin"). For subscriptions to the initial capital or capital increases of companies meeting the conditions set by reference to Articles 239 bis AB and 885-0 V bis (small start-up or developing companies), annual payment ceilings are raised to €50,000 for a single person and €100,000 for a jointly taxed married couple. Total payments taken into account may not exceed these limits. The measure applies to payments made from 1 January 2009.