France: COVID-19 - The Rent Waivers Tax Credit is Implemented!
Frédéric Donnedieu de Vabres 20 Jan 2021
On 17 December 2020, the Finance Act for 2021 was voted in by Parliament. Now the terms of application of this tax credit are final under confirmation of the Constitutional Council.
On 17 December 2020, the Finance Act for 2021 was voted in by Parliament. Now the terms of application of this tax credit are final under confirmation of the Constitutional Council.
As a reminder, the measure aims at granting a tax credit, equal to 50% of the rents waived during the period of application of the lock-down measures that began on 30 October 2020, to lessors who are tax French residents or legal entities (including lessors exempt from corporate tax such as French SIICs and OPCIs).
The tax credit can be used by members of French SCPIs and companies subject to the tax transparency regime under Article 8 of the French Tax Code. OPCIs in the form of SPPICAVs have however been explicitly excluded from this setting: this tax credit has therefore to be used at their own level.
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