Draft French Amended Finance Act for 2012 includes significant corporate tax increases

The French Government recently disclosed the draft second Amended Finance Act for 2012. This Act contains measures that may significantly impact US and International groups with French operations or subsidiaries. The common goal of the proposed measures is to increase tax revenue either by creating or increasing taxes or by closing loopholes or structures that are perceived as "abusive". If enacted as proposed, most measures would require immediate attention since they would apply to current and ongoing financial years.