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27 September 2019

Property ownership tax and commercial lease: Who should pay ?

The property ownership tax (taxe foncière) is a local tax levied once a year by municipalities. To calculate the amount of the tax, tax authorities use the cadastral rental value of the property. This base is then multiplied by the tax rate set by each municipality. Any owner of a real estate property is liable for the property ownership tax. However, while the owner is effectively legally liable for this tax, it is permissible, under a commercial lease agreement, for the latter to pass all or part of the burden of this tax to the lessee of the property. But what exactly does the law say?

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27 June 2019

New thresholds immediately applicable for the appointment of statutory auditors

Following a report drawn up by the General Inspectorate of Finance on the certification of the accounts of French small businesses, the Government has included in the Law on business growth and transformation, known as the “PACTE” Law , provisions for an harmonization of the thresholds for the appointment of statutory auditors regardless of the corporate form of the company whose accounts are certified, thereby raising the certification thresholds in commercial companies to the level of the thresholds for small businesses provided for in the Accounting Directive 2013/34/EU of the European Parliament and the Council of June 26, 2013.

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30 April 2019

Transposition of Directive UE 2017/828 as regards the encouragement of long-term shareholder engagement in listed companies

On May 17, 2017, Directive 2017/828 of the European Parliament and of the Council amending Directive 2007/36/EC as regards the encouragement of long-term shareholder engagement in listed companies was adopted.
This revision of Directive 2007/36/EC aims to change practices brought about by the 2008 financial crisis, which, by promoting short-term yields, lead to sub-optimal corporate governance and performance.

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29 March 2019

Exclusion of shareholders: The French Supreme Court endorses a by-laws provision that excludes the vote of the excluded shareholder

There are many legal cases and court decisions concerning the exclusion of shareholders because disputes between shareholders are frequent and the exclusion sensitive to implement practice. While judges ensure strict compliance with the terms and conditions that govern the exclusion of shareholders, some legal tricks do enable to circumvent the inflexibility of the rules of […]

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30 January 2019

Amendment to the PACTE Bill: The performance of a legal audit of small businesses, a new task allotted to statutory auditors

In a previous article published in October 2018[1], we addressed the bill on business growth and transformation, known as the “PACTE Bill” in French, and commented the provisions concerning the increase of the thresholds applicable for the appointment of statutory auditors and the end of the compulsory appointment of statutory auditors in certain types of […]

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30 November 2018

The new reform of groups’ tax consolidation system

For several years, the judgments of the European Court of Justice have constantly challenged certain provisions of the French General Tax Code relating to groups’ tax consolidation system. And for a good reason: The various regimes existing within the European Union restrict the freedom of establishment and none of the reasons given by the Member […]

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