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Starting up in France

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Words by Patrick Maupard on setting up a business in the French market

Are you thinking about expanding to France or finally making the jump and starting up in the Paris Region? Maupard Fiduciaire’s CEO and founding partner Patrick Maupard talks about the French business environment and states some facts that could positively influence your decision.

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The period for a 40% extra-depreciation (suramortissement) of certain industrial goods has been extended to the 31st December 2016

Last year, a law called Loi Macron (Loi pour la croissance, l’activité et l’égalité des chances économiques) was passed in France. It includes a provision for a 40% extra-depreciation of certain industrial goods, as stated in Article 142. This provision, le dispositif de suramortissement , was originally scheduled to end on the 14th April 2016 but Emmanuel Macron, the Minister of Economy, Industry and Digital Affairs, recently announced that it will be extended to the end of the year.

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Social security contributions

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Social security contributions: are you paying more than your fair share?

Do you pay social security contributions on your capital income in France, yet are also insured under a social security scheme in another member state of the EU, EEA or in Switzerland? You could be paying more than you need to and thus entitled to a refund.

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Taxe d’habitation: A guide to French local property taxation

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Part One: Taxe d’habitation

Expat homeowners: are you confused about the French local property tax system?

Are you a non-resident homeowner in France? Perhaps you are retiring to the South, or are considering acquiring a chalet in the French Alps to rent out. Buying and managing a property in any country can prove to be a hassle at times, particularly when it comes to paying the correct taxation rates with regards to your needs and requirements from the investment. Our team of experts often receive questions from expat homeowners in France concerning the difference between two of France’s main local property taxes: taxe d’habitation and taxe foncière. In Part One of our handy summary below, we explain taxe d’habitation.
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French Social Contributions: Important changes

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French social contributions

Important changes for non-residents you should be aware of

Change for nonresidents in French Social Contributions Rules
Have you had rental income from France within the last 2 years? Have you sold real estate in France within the last two years? Are you a non-resident? If these questions are relevant to your situation, there have been some important changes in European legislation of which you need to be aware.

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Start recovering your startup costs in France today

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Startup costs:

How to recover startup costs in France?

Starting a business in France is different to starting one in other countries in Europe. In other European countries, incorporation is immediate, however, in France this process takes time because of French administrative formalities. During this period you can still work for your clients as a ‘company in formation’ and spend money for the company. These costs are incurred before the company exists so how can you recover them?

Don’t panic. French corporate law provides for this scenario with Article L. 210-6 of the code de commerce to help to recover startup costs in france.

What kind of costs can be absorbed by the company?

“Plane tickets, travelling around the city, appointments with future clients, deposits on premises, purchasing stock, licence applications, tax and accounting services, and, depending on the sector, investigations and studies, testing, reports, evaluations etc. It’s important for companies that are starting up to understand how to use the law to transfer these expenses to your company immediately after incorporation, and one of our aims as a business adviser in France is to support start-ups with their first steps into the French market.” – Patrick Maupard, CEO and founding partner of Maupard Fiduciaire.

In practice, the start-up costs are absorbed by the company at the time of its incorporation, as, during the first general meeting, all of the shareholders create and agree on the list of start-up expenses to be transferred to the company. They can either be posted as an amortizable asset in the balance sheet or as a current expense in the profit and loss account.

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New FEC file required for audit in France – will your company be affected?

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New FEC file required in France

All you need to know about this latest audit requirement

A new tax law has changed requirements in French tax audit procedure, and your company may be affected.
An “FEC” file must now be provided to the tax auditor at the start of any tax audit.

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