France Tax Agency Updates Administrative Doctrine on Reduced Corporate Tax Regime for Specific SMEs

The French General Directorate of Public Finance March 3 updated the administrative doctrine on the 15 percent reduced corporate tax rate on profits of up to 38,120 euros (US$ 45,633) for qualified small and medium-sized enterprises (SMEs). The administrative doctrine explained that: 1) entities with a fiscal year beginning on or after Jan. 1, 2021, with annual revenue of up to 10 million Euros (US$11.9 million) are eligible for the reduced 15 percent rate; and 2) reporting obligations and calculation methods have been updated. [France, General Directorate of Public Finance, 03/03/21]

Reference:
View Announcement. View Guidance No. BOI-IS-LIQ-20. ...