European Commission Approves Amendments to France State Aid Income Tax Reduction Regime for Specified Investments

The European Commission (EC) Sept. 11 published State Aid Case Decision No. SA.119189, approving amendments to France’s IR-PME income tax reduction regime for individuals making cash subscriptions to the capital of small and medium-sized enterprises (SMEs), or direct investments in a socially useful solidarity enterprise (ESUS). The amendments include measures to: 1) expand the ESUS component to real estate companies that have the purpose of preserving and enhancing historic monuments and protected sites, parks, and gardens; 2) reintroduce a 25 percent increase in the tax reduction rate for subscriptions to shares in innovation mutual funds (FCPIs); 3) introduce a 30 ...