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ARTICLE · 04 JUNE 2015

Exceptional Depreciation Of Industrial Assets

Jones Day
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The Exceptional Depreciation will not be reflected under the French GAAP and will take the form of a tax adjustment to book entries.

FranceTax
Alexios Theologitis
Alexios Theologitis
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The French Government introduced as part of its bill for growth and activity (Projet de loi pour la croissance et l'activité, or Projet de loi Macron, Macron Draft Law) a new measure aiming at boosting industrial investment in France: an exceptional additional 40 percent depreciation of certain industrial assets (Exceptional Depreciation).

Under this new measure, companies are allowed an exceptional deduction from their taxable income, equal to 40 percent of the acquisition cost (excluding financial expenses) of certain eligible assets.

The Exceptional Depreciation applies to assets that (i) have been acquired or manufactured by companies between April 15, 2015, and April 14, 2016, (ii) are eligible for declining-balance depreciation, and (iii) fall into one of the categories set out in the Macron Draft Law, including inter alia equipment and tools used for industrial manufacturing operations or scientific and technical research purposes.

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