law to modernize the economy improves certain tax incentive schemes to the transmission business for both the buyer that the entrepreneur who sold his company. First
for buyers, The law amends the conditions for the reduction of income tax paid in interest to borrow from loan an SME.
For borrowings of 28 April 2008 to December 31, 2011, the buyer can hold only 25% (instead of 50%) of share capital and voting rights alone or with his family group and other employees of the company. And the maximum amount of tax reduction, which remains fixed at 25% of the amount of loan interest, increases as the maximum annual interest chosen for its calculation is doubled to 20 000 € for a single person and € 40,000 for a married or PACS, since 1 January 2008.
Other requirements to qualify for this reduction is maintained. Buyers must include a commitment to hold the securities for 5 years and must exercise (or a partner) a function of leadership within the acquired company.
On the side of the assignor, the law extends the tax system of tutoring aimed at encouraging entrepreneurs to send former volunteers the ropes of leading designers. Also, from the taxation of income earned in 2009, the tax reduction of 1 000 € given to these guardians will be extended to the assignor who shall himself tutoring his company to the buyer. And if so, whether the buyer or not registered as job applicant or recipient of welfare benefits.
Note: The law also improves the conditions for granting warrants for shares of company founder, without changing their tax system.
Implementing decrees are expected to implement some of these measures. Copyright ©
SID Press - 2008
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