French Business Law - French Legislation

Article 238 bis HP of the French General Tax Code

November 8, 2023

I.-(Repealed) II.-The approval provided for in Article 238 bis HO is granted to limited companies whose sole purpose is the co-ownership purchase of new fishing vessels: a) Operated directly and continuously in the overseas departments by artisanal fishermen or fishermen associated with artisanal fishing companies or fishing outfitting companies as defined in II of Article 240 of Law no. 2005-157 of 23 February 2005 on the development of rural areas…

Article 238 bis HQ of the French General Tax Code

November 8, 2023

The companies defined in Article 238 bis HO are not eligible for the scheme provided for venture capital companies by article 1-1 of law no. 85-695 of 11 July 1985 containing various economic and financial provisions, nor the scheme provided for in favour of the venture capital companies mentioned in l’article 208 D.

Article 238 bis HR of the French General Tax Code

November 8, 2023

I. – In the event of non-compliance with the condition of exclusivity of their activity or in the event of transfer of their co-ownership shares referred to in Article 238 bis HP within a period of less than five years, the companies defined in Article 238 bis HO must pay the Treasury compensation equal to 25% of the fraction of the capital that has not been used in a manner…

Article 238 bis HS of the French General Tax Code

November 8, 2023

Capital gains realised on the disposal of shares in a company defined in article 238 bis HP as well as those withdrawn from the redemption by the said company of its own shares are subject to the rules set out in article 150-0 A without prejudice to the application of the provisions of the second paragraph of article 163 duovicies.

Article 238 bis HT of the French General Tax Code

November 8, 2023

In the event of the approved company being wound up or its capital being reduced, the Minister responsible for the budget may order the reinstatement of sums deducted pursuant to articles 163 duovicies et 217 decies to the overall net income or taxable income for the year or financial year during which they were deducted.

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.

Article 238 bis HV of the French General Tax Code

November 8, 2023

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.

Article 238 bis HW of the French General Tax Code

November 8, 2023

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…

Article 238 bis HX of the French General Tax Code

November 8, 2023

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.

Article 238 bis HY of the French General Tax Code

November 8, 2023

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….

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French General Tax Code

Article 238 bis HP of the French General Tax Code

Article 238 bis HQ of the French General Tax Code

Article 238 bis HR of the French General Tax Code

Article 238 bis HS of the French General Tax Code

Article 238 bis HT of the French General Tax Code

Article 238 bis HU of the French General Tax Code

Article 238 bis HV of the French General Tax Code

Article 238 bis HW of the French General Tax Code

Article 238 bis HX of the French General Tax Code

Article 238 bis HY of the French General Tax Code

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French General Tax Code

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