2023-10-11 20:26:19
By Julie Ruiz
Published 4 hours ago, Updated 4 hours ago
This transposition of the European directive promises to be a nightmare for tax specialists. Ratirath – stock.adobe.com
DECRYPTION – According to Bercy, more than 570 companies would potentially be within the scope of this new measure
With its 406 pages, the 2024 finance bill is the “thickest in history», jokes Budget Minister Thomas Cazenave. This exceptional length is due to one article in particular: article 4. Spanning 10% of the bill, the transposition of the European directive concerning minimum taxation at 15% for multinationals promises to be a nightmare for tax professionals.
Concretely, this new tax concerns French groups which achieve more than 750 million annual turnover. According to Bercy, more than 570 companies would potentially be within the scope of this new measure. However, this does not mean that they will all have to pay this additional tax. In fact, the mechanism only aims to recover the “difference” between the tax rate on the income of a foreign subsidiary and this minimum rate of 15%. Thus, if a French group declares in a State where the corporate tax rate applied is…
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