French Tax Update - Repeal of the 3 Percent Tax on Distributions, Exceptional Corporate Surtax, and AFME FTT Protocol
The present French Tax Update provides an overview of several significant publications, including: (i) the landmark ruling of the Constitutional Court repealing the French 3 percent tax on dividend distributions; (ii) the introduction of a new exceptional surtax on corporate income tax under the first draft amending finance bill for 2017; (iii) the entry into force of the French FTT Protocol published by the Association for Financial Markets in Europe; (iv) a noteworthy decision of the Administrative Supreme Court with respect to treaty shopping; and (v) an unfavorable decision of the Administrative Court of Appeals of Versailles in the matter of withholding levied on dividends paid to foreign nonprofit organizations.
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