As part of a package of austerity measures introduced in late August, Prime Minister François Fillon announced a modification of the rules governing loss carry forwards which will impact company cash flows.
The use of tax losses will now be limited as follows:
These measures will apply to fiscal years ending from the enactment of the 2011 Amended Finance Bill, which is expected by the end of September.
The Bill also includes a provision to reduce the capital gain participation-exemption scheme from 95% to 90%, applicable to FYs begun after 1/1/2011.
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High Street Partners