Immediate refund of loss carry-back tax credits
Article 5 of the third amending finance law for 2020 allows companies subject to corporate tax to obtain an immediate refund of their unused loss carry-back credits, including those arising for financial years ending up to 31 December 2020, on request filed by the deadline for that year's tax return. Such credits are normally refunded after five years.
Measure originators
A positive amount is revenue or savings for public finances; a negative amount is a cost or lost revenue.
Measure impact
Loss-making companies that opted for carry-back received a cash refund in 2020 instead of after five years. The impact assessment puts the cost at about €0.4 billion in 2020, offset by lower refunds of about €0.08 billion a year from 2021 to 2025.
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
President of the Republic signature
Publication au Journal officiel
National Assembly has the final say
Si échec CMP
Joint committee
Désaccord éventuel
Debate and vote
Debate and vote
Débat et vote en séance publique à l'Assemblée nationale, ou engagement de la responsabilité du Gouvernement (article 49.3)