French Unveil Huge Amendments to Corporate Tax Benefit Regulations

The Finance Bill 2019 is currently being reviewed by the French Parliament; with the end to prevent abuse on the country’s current income tax regime. The new legislation enforces fines of up to 80% of the amount of unpaid tax and ignoring transactions that are motivated by a tax reduction and go against the underlying regulations.

Likewise, tax deduction of an organisation's net interest costs will be stopped at either EUR €3 million or 30% of the earnings before tax; interest or depreciation; whichever is higher.