French insurance contributions on executive and shareholder
remuneration (pay + dividends) have been substantially increased by the
National Insurance Funding for 2013 Act, No. 2012-1404, of 17th December 2012. Until
31st December 2012, all dividends were subject to national insurance
contributions on unearned income but
henceforth, under Article L136-3 of the National Insurance Code, amended by Act
No. 2012-1404, certain dividends are considered as pay received by
executives and shareholders and are therefore subject to the national insurance
contributions on pay. The Act also abolished the ceiling on health insurance
contributions payable by the self-employed and all this means that businesses
must rethink the way that they have been structured until now.
The Kingdom of Morocco is supporting the ambition of becoming the
leading financial place for Africa. In this context, a wave of draft
laws is to be passed and implemented within the following months,
amongst which, the Law No. 53.08, setting up a new financial authority,
and the Law No. 54.08, reforming public offering rules, are of paramount
importance to Moroccan and foreign issuers, and financial institutions.
The opportunities offered to foreign investors by the Chinese mergers and acquisitions market are increasing every year: in 2010, transactions involving foreign companies came to 60.1 billion euros, an increase of 21.2% compared with 2009. Seen from the West, where markets are declining, all sectors of the Chinese economy seem to be undergoing promising development and the statistics indicate that the Middle Empire will be a lasting springboard for growth.
L’article 1er de la loi de financement rectificative de la Sécurité sociale pour 2011 oblige les sociétés commerciales de 50 salariés et plus, dont les dividendes par part sociale ou par action sont en augmentation par rapport à la moyenne des deux années précédentes, à verser une prime à l’ensemble de leurs salariés
Types of investors
The private equity (PE) funds that are active in Bulgaria are not raised or registered in the country. Some Bulgarian PE funds were raised recently, but there are no statistics as to the sources of their funding, their number, the funds that were accumulated, etc.
The second supplementary budget published in the Official Gazette September 19, 2011 provides for two key measures that affect the deferral of tax losses and taxation of capital gains realized on the sale of equity securities .
Au delà des mesures applicables à l’ensemble des contribuables (telles que la limitation du report des déficits ou la réforme du mode de calcul des plus values sur cessions de participations),le plan de réduction des déficits annoncé le 24 août dernier par le gouvernement comprend des mesures qui intéressent spécifiquement les acteurs du secteur financier.