Article 238 bis HU of the French General Tax Code
November 8, 2023
A decree sets out the terms of application of articles 238 bis HO à 238 bis HT, including reporting obligations.
A decree sets out the terms of application of articles 238 bis HO à 238 bis HT, including reporting obligations.
For the assessment of corporation tax, cash subscriptions, made from 1 January 2023 until 31 December 2028, to the capital of approved capital companies, subject to corporation tax under the conditions of ordinary law and whose business is the acquisition of long-term electricity supply contracts are allowed as a deduction under the conditions defined in article 217 quindecies and up to the amount of the authorised capital.
The authorisation provided for in Article 238 bis HV is issued by the Minister responsible for the budget, after obtaining the opinion of the Minister responsible for energy, to joint stock companies whose purpose is to conclude long-term electricity supply contracts with electricity producers for the benefit of members of the said companies who meet the conditions set out below. These contracts reserve electricity consumption rights that cannot be exercised…
The companies defined in Article 238 bis HW may not benefit from the scheme provided for venture capital companies by article 1-1 of law no. 85-695 of 11 July 1985 containing various provisions of an economic and financial nature, nor the scheme provided for in favour of single-member venture capital companies mentioned in l’article 208 D.
In the event of non-compliance with their corporate purpose, companies defined in Article 238 bis HW must pay the Treasury compensation equal to 25% of the fraction of the capital that has not been used in accordance with its purpose, without prejudice to the application of the provisions of Article 1649 nonies A. The amount of this indemnity is excluded from deductible expenses for the purposes of calculating taxable profits….
In the event of the dissolution of the company or a reduction in its capital, the Minister for the Economy, Finance and the Budget may order the reintegration of sums deducted pursuant to article 217 quindecies to the taxable income for the financial year during which they were deducted.
A decree sets out the terms of application of articles 238 bis HV to 238 bis HZ and, in particular, the reporting obligations.
I. – A company which has transferred or transfers outside France, directly or indirectly, by itself or through a third party, elements of its assets to a person, to a body, in a trust or in a comparable institution, with a view to managing them in its interest or to assuming on its behalf an existing or future commitment, includes in its taxable income the results which derive from the…
I. – Proceeds from the investment of the portion of sums received from the issue of securities covered by the provisions of Article L. 228-97 of the French Commercial Code transferred outside France to a person or entity, directly or indirectly, by the issuing company or through a third party, are included in the taxable income of this company for the first financial year ending on or after 31 December…
I. – Natural or legal persons carrying on a commercial, industrial, craft, agricultural or liberal profession activity are authorised to revalue their non-depreciable fixed assets, including equity interests, appearing in the balance sheet for the first financial year ending on 31 December 1976. This revaluation may be carried out either in the accounts for the first financial year, ending on 31 December 1976, or in those for the three following…
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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