Financial Bill 2013: removal of the exemption of capital gains ("Niche Copé")

28 September 2012

Report from Dr. Noah Gaoua, IBFD Research Associate

In the Finance Bill for 2013 (Projet de loi de Finances pour 2013, PLF) adopted by the Council of Ministers on 28 September 2012, the government proposes to abolish the exemption of capital gains ("Niche Copé"). Under the current regime, long-term capital gains on the disposal of participation shares are exempted from corporate income tax (10% of the net capital gains is, however, deemed as a non-deductible expense wi…