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Corporate Tax Changes for Large Companies in French Finance Bill 2017

In addition to the progressive reduction of the corporate tax rate to 28% for all companies by 2020 (previous coverage), the French Finance Bill 2017 also includes certain other corporate tax changes for large companies.

Installment Payments

For large companies with revenue exceeding EUR 250 million, five corporate tax installment payments are due during the year. From 1 January 2017, the amount due for the fifth installment will be increased as follows depending on the revenue amount:

  • Revenue up to EUR 1 billion - 80% of the estimated tax liability for the year, less installments already paid (increased from 75%);
  • Revenue over EUR 1 billion up to EUR 5 billion - 90% of the estimated tax liability for the year, less installments already paid (increased from 85%); and
  • Revenue over EUR 5 Billion - 98% of the estimated tax liability for the year, less installments already paid (increased from 95%).

Exceptional Surcharge

The exceptional 5% surcharge introduced in 2011 and increased to 10.7% in 2014 is not renewed. As such, the surcharge will no longer apply for large companies (revenue exceeding EUR 250 million) for financial years ending after 30 December 2016.

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