Other news for October 2022

Tax credit for collaborative research

A tax credit was created by the last finance law for expenses invoiced to industrial, commercial, or agricultural companies by certain research and knowledge dissemination organizations with which they conclude a collaboration contract between January 1st, 2022, and December 31, 2025. The amount of the tax credit is set at 40% of the invoiced expenses - minus certain aids - withheld within the overall annual limit of 6 million euros. The rate is increased to 50% for SMEs (headcount < 250 employees, turnover < €50 million or annual balance sheet total < €43 million). Two decrees, recently adopted, define the terms of application of this new tax credit.

Exceptional salary release

Participation or profit-sharing bonuses placed on an employee savings plan are, in principle, unavailable for several years except for special events (marriage, birth, purchase of a main residence, etc.). But exceptionally, due to the decreases in purchasing power caused by inflation, employees, corporate officers as well as business leaders and their collaborating or associated spouses may request the release of some of these sums. This release must be requested by December 31, 2022, at the latest and in one go. It is limited to an amount of €10,000 (after deduction of social security contributions) per beneficiary.

Extension of the “resilience” state-guaranteed loan (PGE1)

Set up a few months ago to support companies affected by the economic consequences of the conflict in Ukraine, the “resilience” State-Guaranteed Loan is a variant of the State-Guaranteed Loans that was introduced in the context of the Covid-19 health crisis. Initially, the “resilience” state-guaranteed loan was due to end on June 30, 2022. But as the war continues, it is extended by 6 months. Eligible companies will therefore be able to subscribe to one until December 31, 2022.

A single business registration system in 2023

A single registration, called the “Registre National des Entreprises” (RNE2), will officially start operation on January 1st, 2023. From that date, it is therefore with this RNE that businesses will have to register and publish all the legal information and documents relating to their activities. The new system will therefore centralize all the information that concerns businesses and replace most of the existing registers, namely the Traders’ Register3, the Agricultural Assets Register4 and the Special Register of Sales Agents5. The Trade and Companies Register (RCS6) kept by the clerks of the commercial courts will remain.

1. Prêts Garantis par l’État (PGE)

2. National Business Register.

3. Répertoire des métiers.

4. Registre des actifs agricoles.

5. Registre spécial des agents commerciaux.

6. Registre du commerce et des sociétés (RCS).