1997 Finance Act/Amended 1996 Finance Act

This article is designed to summarize the main provisions of the 1997 Finance Act and the Amended 1996 Finance Act. Although few new structural measures have emerged, it is still worth taking a closer look at several articles of these texts.

INDUSTRIAL AND COMMERCIAL PROFITS.

Depreciation Of Private Vehicles: Increase In The Price Ceiling Used As The Basis For The Calculation Of The Deductible Amount Of Depreciation

Taking into consideration the increase in the cost of mid-range private vehicles, the 1997 Finance Act has raised the deductible price-ceiling from FRF 100,000 to FRF 120,000. The usual depreciable life remains 5 years.

Example: car acquired on December 1,1996 at a price of FRF 145,000.