Publications
21 September 2009
Tax law
Change in French business tax
Brief on French business tax to be replaced by a new tax so-called "Cotisation Economique Territoriale" (Draft Finance Bill for 2010)
It has been a long time …. Here comes the “Cotisation Economique Territoriale (“CET”) that will replace the French business tax.
The CET will be composed of a « cotisation locale d’activité » (CLA) and of a « cotisation complémentaire » (CC). The CLA will be due on real estate assets currently subject to the “”taxe foncière” (i.e. a tax due on real estate properties). The basis value of those assets will be revised shortly. The other component, the CC, will be assessed on the added value of the company but the rate to apply will be progressive and will depend on the turnover of the company : from 0% below a turnover of Euro 500,000 up to 1.5% for a turnover above 5 M€.
Those two taxes would be limited to 3% of the added value of the company.
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