French budget introduces important corporate tax changes and incentives

European Tax Newsalert

On December 19 and 20, the French parliament approved the Finance Act for 2013 and the 3rd Amended Finance Act for 2012. The bills are subject to formal publication and Constitutional review, but should enter into force before December 31. These Finance Acts contain corporate tax measures designed to improve the competitiveness of the French economy while also addressing the French budget deficit by raising tax revenues, closing tax loopholes, and tackling tax abusive situations. Most measures will have immediate or even retroactive application and will affect US multinationals (US MNCs) with French operations or subsidiaries.

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