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ARTICLE · 30 OCTOBER 2019

Draft French Finance Bill For 2020 (Draft)

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The French Parliament began to debate the Draft on 13th October 2019. You will find below a summary of some of the more notable provisions of the Draft.

FranceTax

The French Parliament began to debate the Draft on 13th October 2019. You will find below a summary of some of the more notable provisions of the Draft.

1. French tax domiciliation

The Draft is proposing to add new criteria for French individual tax domiciliation, starting in 2019, for:

  • Certain executives,
  • Entities whose head office is located in France, with an annual turnover exceeding €1 billion1; if the said entities control other entities (within the meaning of the French Commercial Code), their turnover is increased by the turnover of the controlled entities when determining whether the €1 billion threshold is exceeded.

The relevant executives comprise: chairpersons of boards of directors; managing directors; deputy managing directors; chairpersons of supervisory boards; chairpersons and members of executive boards; managers and those performing other similar functions.

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