French Parliament approves Finance Bill for 2023

The French Parliament has approved the Finance Bill for 2023.

This Alert summarizes key tax reforms in the Bill that may affect corporations including (i) progressive repeal of the Business Contribution on the Added Value; (ii) easing of the holding period requirements to benefit from the specific ruling applicable to certain French spin-off transactions; and (iii) transposition of the temporary solidarity contribution on the excess profits generated by activities within the oil, gas, coal, and r…