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ARTICLE · 12 MARCH 2014

French Tax Update – March 2014

Jones Day
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The French corporate tax rules are on a strict territoriality basis, i.e., only profits generated in France are liable to tax.

FranceTax
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In this French Tax Update, we will catch up on the recent developments pertaining to two generally hot topics under French tax law: the controlled foreign companies ("CFC") rules, and the abuse of law (abus de droit, "AoL") procedure. More specifically, we will focus on recent case law affecting the CFC safe harbor rules, and on the advisory opinions issued during the last few months by the Committee in charge of AoL matters (Comité de l'Abus de Droit Fiscal, "AoL Committee"), inter alia with respect to management packages and certain financing transactions.

Recent Case Law Affecting French CFC Rules

During the last 15 months or so, French tax courts have issued various decisions that have, potentially, a significant impact on the application of the French CFC rules (article 209 B of the French tax code (Code général des impôts, "FTC")).

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