World Tax - Home
The comprehensive guide to the world's leading tax firms

France

Market overview Print-friendly version

Tax authorities

Ministry Of Economics And Finance (Tax Section)
9 Rue d'Uzes, 75094 Paris Cedex 02
Tel: +33 1 42 360 233
Website: www.impots.gouv.fr

Tax rates at a glance

(As of August 13 2009) 

Corporate income tax rate 33.33% (a)
Capital gains tax rate exemption/19%/33.33% (b)
Branch tax rate 33.33%

Withholding tax

(c)
Dividends 25% (d)
Interest 18% (e)
Royalties from patents and licences 18% (d)
Branch remittance tax 25%

Net operating losses (years)
Carryback 3 years
Carryforward Unlimited

(a) The effective rate of French corporate income tax is 34.43% (that is, the standard rate of 33.33% including a social security surtax of 3.3%) A reduced CIT rate of 15.495% (including the surtax of 3.3%) may apply to small and medium companies.
(b) Capital gains derived by French companies on disposals of participating interests are exempt from CIT, except for a 5% service charge, computed on the net gains. This 5% service charge will be taxed at the effective CIT rate of 34.43%.The 19% reduced rate is applicable to capital gains derived from sales of participating interests in real estate property companies.
(c) These rates are usually reduced or eliminated under double tax treaties.
(d) Under the EU Parent-Subsidiary Directive, dividends distributed by French subsidiaries to EU parent companies are exempt from withholding tax.
(e) No withholding tax is imposed on interest and royalties paid between associated companies of different EU member states when certain conditions are met.

Source: Professionals from Arsene-Taxand, the French member of Taxand, the global worldwide network of leading independent tax firms.

France

Renaud Jouffroy
Landwell & Associés
Paris

Though the French Parliament passed a number of tax measures this year, the biggest impact on a company's corporate taxes has come from the courts, explains Renaud Jouffroy of Landwell & Associés

[Show full article]

Tax

Reform of France's business tax (taxe professionelle) regime is expected to cause quite a stir over the next 12 months. Parliament announced plans to repeal the tax from 2010 but no official reform has been adopted. Business tax costs French taxpayers ... [more]

Bredin Prat focuses mainly on transactional work. Star names have helped the team retain its position as one of France's leading tax practices. Partner Yves Rutschmann is rated highly for his transactional tax skills. One peer called him a "very capable ... [more]

Industry commentators compare CMS Bureau Francis Lefebvre to the big-four accounting firms because of the breadth of its services. The large tax boutique is highly regarded by competitors and has a number of well-known advisers including partner Bruno ... [more]

Thirty-five lawyers make up Baker & McKenzie's tax team. The size of the group, its full range of services and its diverse client list distinguishes it from other law firms in Paris. The team offers transactional tax assistance as well as more day-to-day ... [more]

Cleary Gottlieb Steen & Hamilton has an impressive list of tax partners. Out of the five partners, however, only two are fully dedicated tax practitioners: Gilles Entraygues and Pascal Coudin are both highly recommended by peers and clients. There are ... [more]

The practice at Clifford Chance is praised for its transactional work. Partners Eric Davoudet and Eric Zeller are highly recommended. Laurent Vallée joined the group as an of counsel in September. He is an ex-judge at the Conseil d'Etat, the French administrative ... [more]

An impressive client list and a varied selection of transactions have cemented Freshfields Bruckhaus Deringer's position in this year's ranking. The team, headed by Cyril Valentin, advised Eurotunnel on the tax aspects of the restructuring of its €9 ... [more]

Allen & Overy is described as having a "good tax team", by one industry specialist. Siamak Mostafavi heads the group and specialises in advising clients on the taxation of financial products and derivative instruments. He works alongside partners Patrice ... [more]

Described by one tax adviser as "an alternative to the big-four", Arsene Taxand provides a full range of tax services to both domestic and international clients. The firm is the French member of the independent global tax network, Taxand. Denis Andres, ... [more]

Ernst & Young is described as the "best out of the big-four firms in Paris". Peers commend the overall quality of the team, its "strong presence" and its "very good people".

Fidal Direction Internationale is KPMG's affiliate firm in France. The team advises on a range of tax services including M&A tax advice, VAT and transfer pricing.

The Gide Loyrette Nouel tax team offers advice on corporate restructurings, financial transactions, tax audits, disputes, international tax and real estate. The practice comprises five partners and 13 associates. Competitors have particularly noted their ... [more]

Landwell & Associés, a PricewaterhouseCoopers member firm, has advised some of the biggest French multinational organisations this year. The team has carried out some significant due diligence work for large transactions. The 406 tax professionals ... [more]

Latham & Watkins' Paris office is comprised of eights lawyers, including four partners. The team is led by respected lawyer Christian Nouel. They have been involved in a number of important transactions in France this year including advising Petroplus ... [more]

Edouard Chapellier, head of tax at Linklaters, remains a dominant force in the French market. He is mentioned for his M&A work and is described as "a very good lawyer" by one industry commentator. The group has been involved in an impressive list of ... [more]

Mayer Brown's team offers a range of tax advice but focuses on M&A and leveraged buyouts. Eighty percent of its work comes from stand-alone clients including Pernod Ricard, The Carlyle Group and Morgan Stanley. Over the past few months the group ... [more]

Niels Dejean heads the small team at Shearman & Sterling. He represented Société Générale in the deal with Crédit Agricole to combine their asset management operations. He also advised Orbeo, the 50/50 joint-venture between Rhodia and Société Générale, ... [more]

Skadden Arps Slate Meagher & Flom focuses on cross-border transactions and litigation. Renowned partner Philippe Derouin is a popular name on the French market. He is described by one peer as "very active". This year he has advised Air France KLM in ... [more]

Gauthier Blanluet, partner at Sullivan & Cromwell, has advised on some big-ticket transactions this year. He represented Crédit Agricole in the €6.6 billion combination of its asset management business with Société Générale's and Suez Environnement on ... [more]

Taj

Taj, Deloitte's affiliate firm in France, is commended for its visibility in the transfer pricing field. Michel Aujean and Gianmarco Monsellato are two of the practice's most highly regarded advisers.

Marie-Hélène Raffin at Willkie Farr & Gallagher is noted for her restructuring work. The team advised France Télécom and Thales, a defence contractor this year. Competitors note that Pierre Ullmann's arrival three years ago from Brandford Griffith boosted ... [more]

Ashurst has been mentioned this year for its continuing improvement. The small team comprising Catherine Charpentier and Nadine Gelli advises domestic and international corporates, banks and funds on all tax aspects relating to their transactions

De Pardieu Brocas Maffei has made a number of significant hirings this year, which have boosted the team. Highly regarded lawyer Bernard Boutemy joined from Baker & McKenzie along with partner Sarah Espasa-Mattei and senior associate Hélène Petard-Montredon. ... [more]

The two tax partners at Jones Day, Christopher Potter and Vincent Agulhon, advise both French and international clients on the tax aspects of cross-border investments and infrastructure investment projects. One peer recommends Potter calling him "a good ... [more]

Hervé Israël heads the tax team at Lovells. He works alongside four other lawyers. The team advised AXA on the tax issues in relation to the setting up of a structure for the distribution of an innovative investment-related insurance product. They also ... [more]

Stephane Chaouat is the only tax partner at Weil Gotshal & Manges. He advises French domestic and international corporate clients on a variety of tax issues including M&A, restructurings, joint ventures and indirect tax.

Brandford Griffith & Associés has just one tax partner. Roland Poirer advises on tax matters in the areas of M&A, reorganisations, financial instruments and real estate. He also acts for clients in litigation disputes.

Ariel Harroch at Gibson Dunn & Crutcher is regarded as a "very good corporate tax lawyer", even though he does not practice tax law exclusively. Associates Jérôme Delaurière and Charlotte Prest work with him. They advise on domestic and international ... [more]

Pierre Appremont heads the tax department at French law firm Lefèvre Pelletier & Associés. He specialises in real estate taxation but also advises on all areas of tax affecting corporations including VAT and litigation.

Moisand Boutin & Associés is a new entry this year. The firm's practice is led by five partners. They advise local and international clients on all aspects of tax law, ranging from tax optimisation to litigation. Cargill, Thermo Fisher and Icade are ... [more]

Nixon Peabody is a firm to watch over the next year. It opened its tax group in Paris this year after two partners and a number of associates joined from Taylor Wessing.

Paul Hastings' tax group now consists of one partner, Allard de Waal, after Henri de Feydeau retired this year. De Waal works alongside two associates. He specialises in transactional tax matters, including restructurings, and also advises on transfer ... [more]

Taylor Wessing is in the process of rebuilding its tax group after two partners left to open Nixon Peabody's Paris tax department. Remaining partner Christophe Flaicher, who created the Taylor Wessing practice in 2003, hopes the team will be back to ... [more]

Tirard Naudin is a boutique, specialising in all aspects of international taxation. It is an independent firm working for corporations and wealthy private clients with cross border needs. Co-founders Jean-Marc Tirard and Maryse Naudin are well respected ... [more]

Christophe Delrieu joined Veil Jourde last year and is commended by peers as being "an excellent professional". The group works closely with the firm's M&A team and assists on sales and acquisitions, leveraged buyouts and restructurings. Yves-Charles ... [more]

Eight lawyers make up the Paris tax team at White & Case including partners Norbert Majerholc and Alexandre Ippolito. The team advised a number of high profile clients this year including Suez Environnement on its carve out and spin-off in connection ... [more]

See also

France
Western Europe (Regional Rankings)

Law firm contact details