Legal opinion about the Financial Law n°2011-1978 of December 28, 2011 for 2012

I – V.A.T (“T.V.A”):

The Reduced-rate (« taux réduit ») of 5,5% is raised to 7% except for the products and services of first necessity (alimentary products, equipments for disabled person…) which continue to benefit from the rate of 5,5%. This new Reduced-rate applies since the 1st of January 2012 for most products and services to which the previous rate of 5,5% was applied. There is a limitative list of products of services which continue to benefit from the rate of 5,5%.

Since the 1st of January 2012, there are 4 rates of VAT applicable in France:

– The normal rate = 19.6%: this rate applies to all the products and services which do not require the application of a particular rate;
– A Reduced-Rate (“taux réduit”) = 7%: for the products and services previously liable for the 5,5% rate;
– A Reduced-Rate (“taux reduit”) = 5,5%: for a list of products listed exhaustively by the law (article 278-0 bis of the French Tax Code (“Code Général des Impôts”)); and
– A specific rate = 2,1%: for press publication, some drugs,…

Summary :

I – V.A.T (“T.V.A”):

II – CORPORATE TAX (“L’IMPOT SUR LES SOCIETES” OR “IS”):

III –PROFESSIONAL CAPITAL GAIN (“PLUS-VALUES PROFESIONNELLES »)

IV – WEALTH TAX (« IMPOT DE SOLIDARITE SUR LA FORTUNE » OR « ISF »):

V – SALE OF BUILDING TO RENOVATE (“VENTE D’IMMEUBLE ACQUIS EN L’ETAT FUTUR DE RENOVATION”)

VI – TRUST

fichier à telecharger:
120117 – Legal opinion about the Financial Law n°2011-1978 of December 28, 2011 for 2012