Doing Business in France - RSM International

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4.5.2 Rates The standard VAT rate is 19.6%. A reduced VAT rate of 5.5% applies to most food products, takeaway food, hotels, gas and electricity delivery services, art works and products used in agriculture. A special reduced VAT rate of 2.1% applies mainly to major medicine products and to newspaper sales. The following goods and supplies, among others, are exempt from VAT: • goods which are exported from France, • goods which are delivered from France to another EU state, • nursing and medical services, • educational services, • some financial services. 4.5.3 Registration, filing obligations & formal requirements concerning invoices 4.5.3.1 Registration There is no VAT registration threshold for resident and non-resident businesses. Resident businesses or permanent establishments of non-resident businesses should register with the Enterprises Formalities Centre in which the principle business is established within 15 days after the start of the business. 4.5.3.2 Filings Monthly or quarterly forms must be filed. If the collected VAT is higher than the incurred VAT, a payment must be made in the same time of the declaration. A 10% fine is applied in case of late payments. 4.5.3.3 Invoices Taxpayers must issue invoices immediately upon the supply of goods and services. There are no tax specific invoicing requirements for export transactions. The specific tax invoicing requirement for EU transactions is that the invoice must contain the VAT identification number of the client and a reference to the French Tax Code when the operation is VAT exempt. 40 | DOING BUSINESS IN FRANCE
La Défense - the main business district in Paris DOING BUSINESS IN FRANCE | 41
Page 1 and 2: Doing Business in France
Page 3 and 4: Foreword RSM International RSM Inte
Page 5 and 6: Contents 1 General Information 4 Ge
Page 7 and 8: Lake Cap-de-Long in Hautes, Pyrenee
Page 9 and 10: The legislative branch is composed
Page 11 and 12: 2 Types of business organisations 2
Page 13 and 14: 2.2.1.2 Private Limited Company und
Page 15 and 16: 2.2.2.3 Simplified Join Stock Compa
Page 17 and 18: 2.3 Dissolution and liquidation of
Page 19 and 20: 3 Employment Labor relations are go
Page 21 and 22: 3.4 Termination of the employment c
Page 23 and 24: 3.6 The social security system Fran
Page 25 and 26: 3.7.3 Employee treatment in France
Page 27 and 28: Group treatment Incentives Anti-avo
Page 29 and 30: 4.2.3 General Expenses General expe
Page 31 and 32: 4.2.5 Controlled Foreign Company (C
Page 33 and 34: 4.2.7.1.2 Withholding tax on intere
Page 35 and 36: Croatia 0 0 0 15 0 0 0 Cyprus 0 3 0
Page 37 and 38: Switzerland resident control13 non-
Page 39 and 40: Secondly, if the amount of interest
Page 41 and 42: 4.2.10.2 World tax consolidation Re
Page 43: 4.4.2 Research and development (R&D
Page 47 and 48: 4.6.1.2 Establishment of overall in
Page 49 and 50: 4.6.2.3 Calculation Net wealth tax
Page 51 and 52: 4.7.2.2 Apprenticeship tax (taxe d
Page 53 and 54: 5 Accounting regulations & standard
Page 55 and 56: St. Stephen’s Cathedral, Vienna S
Page 57 and 58: 5.8 Adoption of IFRS in France The
Page 59 and 60: Lyon/South East France RSM CCI Cons
Page 61 and 62: Notes
Page 63 and 64: Palais de la Bourse, Bordeaux DOING

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