I. CORPORATE TAXATION • French tax consolidation: definitive losses from a European subsidiary may be offset in France – Judgements of the Montreuil Administrative Court (“TA”) on February 11th, 2021, No.1808706, Société Compagnie Plastic Omnium and No.1804038, Société Générale Losses......
Spontaneous tax regularization for companies: The SMEC’s competence is extended The Law for a State at the service of a -trust based society (Essoc Law No. 2018-727 on August 10th, 2018) provided for the implementation of a new trust-based relationship......
I. CORPORATE TAXATION • Value Added Tax (« VAT »): a “trustee carrying out a non-economic activity on a professional basis” is considered as a taxable person acting as such – Decision of the 5th chamber of the Court of......
I. CORPORATE TAXATION • Intangibility of the balance sheet: excessive depreciation can benefit from the “right to forget” – Decision of the 9th and 10th chambers of the French Administrative Supreme Court (“CE”) on December 29th, 2020, No. 429625, Sté......
I. CORPORATE TAXATION • Provisions for major maintenance: the exact maintenance agenda is no longer always required – Ministerial Answer GRAU published in the Official Journal (“JO”) of the French Parliament on December 22nd, 2020, No.283370 The Ministry for Economy......
The Wildenstein case, Tax fraud, Inheritance and Trust 1. In its decision on June 29th, 2018, the Paris Court of Appeal recognized that the prosecution was performed outside the statute of limitations. It should be recalled that at this time,......
I. CORPORATE TAXATION • Intragroup loans: all evidence provided by a company to justify the interest rate charged on loans from a related company must be carefully reviewed – Decision of the 3rd and 8th chambers of the French Administrative......
Penalties for late filing of the 3% tax return Section 990 D of the French Tax Code (“FTC”) introduces an annual tax corresponding to 3% of the fair market value of a real estate property owned directly or indirectly by......