Tax on share buybacks (buyback tax)
New tax on capital reductions through the cancellation of shares bought back by large companies (turnover of at least €1bn). Rate of 8% applied to the nominal value and share premiums
Measure originators
A positive amount is revenue or savings for public finances; a negative amount is a cost or lost revenue.
Measure impact
8% tax on the nominal value of shares bought back and cancelled by large companies. Senate version: 4% rate on actual value, generating around €1bn. In 2023, CAC 40 companies bought back €30.1bn of shares.
Official references
Sources
Procedure timeline
Follow the progress of this fiscal measure through the different stages of the parliamentary procedure.
President of the Republic signature
Publication au Journal officiel
Administrative implementation
Entrée en vigueur de la mesure et mise en œuvre par l'administration
Administrative implementation
Entrée en vigueur de la mesure et mise en œuvre par l'administration
President of the Republic signature
Publication au Journal officiel
Council of Ministers
Validation interne