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Macron Law - main tax novelties


The economic growth and activity bill, better known as the Macron Law (in reference to the French Economy Minister Emmanuel Macron), was finally adopted on 10 July 2015. Taxand France provides a brief overview of the main tax novelties brought by it’s introduction.

Macron Law deals with a range of areas including regulated professions, coach transportation, working on Sundays and the Labour Court System. Key features include: 

  • A 40% additional depreciation of certain industrial equipment purchased or manufactured between 15 April 2015 and 14 April 2016 enters into law. Thanks to this measure, companies subject to corporate income tax at the normal rate (ie 33.1/3%) will be entitled to enjoy an effective tax reduction of 13% of the invested value of eligible equipment.
  • The scope of the favourable tax regime applied to company founder stock options, commonly referred to as BSPCEs regime is extended. A company will be authorized to issue BSPCEs not only to its employees or managers but also to its affiliate employees and managers, provided namely that such affiliate is held at least 75% by the parent company. In addition, young companies resulting from corporate reorganisations will also be entitled to issue BSPCEs under certain conditions.
  • The bonus share regime is radically overhauled to become more favourable. The legislator has reduced the mandatory acquisition period and the holding period duration is now optional (provided that such cumulated duration is not less than 2 years). The acquisition gain (ie value of the free shares as of the date of their acquisition) is taxed the same way as a capital gain instead of wages and salaries.
  • Profit sharing and employee saving schemes are encouraged by some technical adjustments to existing legislation.

Discover more: Main tax novelties introduced by the economic growth and activity Bill (Macron Law)

Your Taxand contact for further queries is:
Frederic Teper
T. +33 1 70 39 47 81

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Taxand's Take

Multinationals with operations in France should familiarise themselves with the new law to ensure they remain compliant and continue to operate efficiently. 

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