Corporate reform in France

18.07.2013

In 2013 in France started reform of corporate legislation, aimed for simplifying it for businessmen and corporations. The first step for creating better conditions for businessmen and corporations was the improvement of the tax authorities, tax rates cuts and the adoption of law about the competition.

Corporate reform continues to move forward, and according to a statement of Prime Minister of France, dated on July 17 of 2013, the overall project is designed to simplify corporate legislation. This project was developed by the Ministry of Economy and Finance and provides a number of measures:

- Simplification of process of establishment and registration of companies;

- Minimization of bureaucracy;

- Cooperation of business and the state;

- Simplification of the tax system;

- Simplification of export of corporations;

- Minimization of the financial reports for small businesses.

Based on:

http://www.economie.gouv.fr/

Expert’s opinion

In France, government should think about the business and tax law problems a long time ago. There is no other country in the World, in which such a significant tax increase has brought into the country`s budget such a large income, that covered all the citizens dissatisfaction.

It`s strange that in France was inflated a huge scandal that has drawn the famous actor and Depardieu accused of unwillingness to help the motherland.

Help is needed, yes! But not by all of the citizens property!

Maybe, there finally appeared some adequate thoughts of the officials, about reforming the corporate legislation as much as possible, to attract more investors and to replenish the state budget at the same time

Irina Lomakina ( Director of Moscow office of “Honest&Bright” Company)