The French National Assembly has reportedly adopted an amendment to the Amending Finance Bill for 2015 that will change the rules regarding the dividends participation exemption regime. The amendment:
- Abolishes the allowed deduction (neutralization) of the taxable 5% proportion for costs and expenses under the participation exemption regime for qualifying dividends from French subsidiaries; and
- Changes the taxable proportion from 5% to 1% for all dividends that qualify for the participation …