Law & Numbers - News Tax

FRANCE - WEALTH TAX - EXEMPTION REGARDING BUSINESS ASSETS - LEADING HOLDING COMPANY

10.03.2011 (France)



In a decision dated 23 November 2010 (C.Cass, Ch. Com n 09-70465), the French Supreme Court reminds the strict definition of a “leading holding company” whose shares can be considered as a business asset and therefore, can be exempted from the French wealth tax (ISF).

Thus, to be qualified as a “leading holding company”, the holding company must actively participate in the management of its subsidiaries, provide services to its subsidiaries and conduct the group policy.





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