France's second Amended Finance Act for 2012 was substantively enacted for IFRS on July 31, 2012 and enacted for US GAAP purposes on August 17, 2012. There are a number of provisions which could have tax accounting implications, in particular the new 3% surtax on dividends and other distributions. Multinational groups with French entities and activities are encouraged to assess the tax accounting implications of these changes.
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